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Committee: Two-month fiscal shortfall of $17.1 million reflects expected seasonal pattern, officials say
Summary
At the Sept. 16 Budget, Finance and Economic Development Committee meeting, staff reported that expenditures exceeded revenue by $17.1 million for the two months ended Aug. 31 and described the variance as a seasonal pattern tied to timing of receipts and large contract transitions.
The Budget, Finance and Economic Development Committee heard a monthly financial update Sept. 16 showing expenditures exceeded revenues by $17,100,000 for the two months ended Aug. 31.
Commissioner Hensley and Director Holbrook told the committee that the shortfall is consistent with the early fiscal-year pattern when few large revenue collections have occurred and that staff typically evaluates revenue and expenses on a quarterly basis. Director Holbrook said accounting adjustments and accruals related to closing the prior fiscal year and starting FY 2026 are producing month-to-month variation.
The presentation noted several specific…
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