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Mill Creek posts $9.4 million surplus; council to handle fee study in-house
Summary
Finance director reported a $4.3 million increase in fund balance for the 2023–24 biennium and a $9.4 million usable surplus entering 2025; council directed staff to run a planned fee study in-house rather than hire a consultant.
The Mill Creek finance director, Armina Lambeth, reported a healthy general fund position and recommended next steps after the council discussed a range of finance topics, including a decision to bring a planned fee study in-house.
Lambeth told the council the general fund’s balance increased by $4.3 million for the 2023–24 biennium, leaving an ending fund balance of about $13.4 million and an available surplus of about $9.4 million after the required 15 percent reserve. “Your general fund remains healthy again. The surplus for general fund starting 2025 is at 9.4 million,” she said.
Lambeth presented revenue and expenditure highlights: biennial revenues totaled about $24.8 million (roughly 4…
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