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Shelton interim finance director reports stronger-than-expected revenue, rising fund balance
Summary
Interim Finance Director Terrence Nitser presented the August financial report showing revenues above budget projections, an increased unreserved fund balance and lower-than-budgeted expenditures through August.
Interim Finance Director Terrence Nitser told the Shelton City Council on Oct. 21 that through August the city’s revenues are performing stronger than projected, increasing the unreserved general fund balance and leaving expenditures below budgeted levels.
Nitser reported that the city’s investments include about $5.7 million at US Bank and just under $20 million in the local government…
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