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Shelton finance staff reports projected draw on reserves; sales-tax receipts showing early decline
Summary
City finance staff told the council that February trends leave the general fund projected to draw about $916,243 from reserves this fiscal year and that sales-tax receipts for January–February lagged 2024 levels.
Shelton finance staff on April 15 briefed the City Council on the monthly financial report for February, saying current trends would draw the general fund down from reserves this fiscal year unless service levels or revenues change.
The finance presentation noted that sales-tax collections for January and February are below year-ago levels and that the city typically collects between $275,000 and $300,000 per month in the general-fund sales-tax category. Finance staff said they currently estimate the city will use about $916,243 of the unreserved ending fund balance this…
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