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North Charleston officials flag thin fund balance, weigh fiscal-year change
Summary
Finance staff told the council the city has collected roughly 11% of the $37 million budgeted for 2025 so far, underscoring the importance of the fund balance and prompting discussion of switching to a calendar-year budget.
Finance staff told the North Charleston City Council finance committee on Oct. 12 that the city budgeted $37,000,000 for 2025 but has received roughly 11% of that amount so far, raising concern about cash timing and the need to protect the city's fund balance.
The warning came as staff explained that city expenses are relatively steady beginning July 1 while about 75% of general revenues arrive in January and February. "If we didn't…
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