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Finance director reports December shortfall, ARPA funds exhausted; utility rates to rise 3%
Summary
Staff told council December sales tax was about $800,000 below budget and the general fund beginning balance for 2025 is roughly $200,000 lower than projected; ARPA funds are fully spent and the city will apply a 3% CPI utility rate increase that appears on March bills.
Kristin, finance staff, presented the city’s December and January financial reports in the council workshop and highlighted a few items the council should monitor through the first quarter.
In December, Kristin said, sales tax receipts fell short of the city’s budget by about $800,000 and the general fund ending balance came in roughly $200,000 below the projection used to start 2025. She told the council those shortfalls merit close monitoring but noted other major general-fund…
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