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City finance director reports revenues ahead of schedule; wastewater plant borrowing and debt noted
Summary
Finance staff told council that general fund revenues are slightly ahead of expectations for the fiscal year to date, the city has borrowed for wastewater plant construction, and several fund balances and indebtedness totals were summarized for July.
At the August meeting, finance staff presented the monthly treasury report for July, telling council that year-to-date general fund revenues were running ahead of schedule while expenses remain within expected ranges.
The report showed general fund revenues at 12.8% of budget versus an ideal execution rate of 8.3% at this point in the fiscal year; general fund expenses were at 9.2%. The capital improvement tax fund and other…
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