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Mayor reports January budget: revenues lagging, expenditures at 8% of year
Summary
Mayor Sherry Alcopello briefed council on the January budget report: the city has completed just over 8% of the budget year, revenues are slightly over 4% (partly because real estate tax bills are mailed in March) and expenditures are at 8%.
Mayor Sherry Alcopello presented the January budget report, saying the city had completed slightly more than 8% of the budget year. She reported receipts (revenues) at just over 4% and expenditures at 8%.
Alcopello explained the gap is seasonal: real estate tax bills are mailed in March and real estate taxes account for about 27% of city revenues, so the city typically records lower revenues in January until the tax duplicate is billed and collected.
A council member asked for clarification of the expenditure figure, and the mayor confirmed expenditures were 8% for the month. The mayor said the city will continue to monitor receipts and will provide further reporting at the next meeting.
