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McGregor finance director reports revenues up, cash balances lower; staff flags grant and one-time items
Summary
City finance staff reported general fund and utility fund performance through July, noting higher revenues year-over-year, shifts in cash positions and several one-time timing differences affecting airport and exchange center figures.
City finance staff presented the city’s midyear financial snapshot at the Sept. 8 McGregor City Council meeting, reporting that year-to-date revenues exceeded expenditures in several funds but that pooled cash and capital-project balances are lower than a year earlier.
The presentation covered July figures (10 of 12 months in the fiscal year). Staff reported general fund revenues at about 85% of budget with expenditures at 77.9% of budget. The utility fund was reported at roughly 99.4% of budgeted revenue and 69.4% of budgeted expenses. The exchange event center and airport showed results below budget for the year-to-date comparisons presented.
Staff said general fund net cash flow was higher than the previous year and attributed…
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