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Elyria general fund drops $1.24 million in January; finance director estimates $1.3 million more in property taxes
Summary
Finance Director Plosky reported a $1,240,483 decline in the general-fund cash balance for January and estimated about $1.3 million in additional property-tax revenue that will be allocated across several city funds.
The Elyria general fund’s cash balance fell $1,240,483 in January, Finance Director Plosky told council at the Feb. 3 meeting, in part because January contained three paydays. Plosky also said that positions previously funded through ARPA are now funded from the general fund.
"The cash balance in the general fund dropped $1,240,483 in January," Plosky said, adding that expenditures exceeded revenues by the same amount in the general fund.
Why it matters: A large month-to-month decline in the…
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