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Town finance staff report June quarter on revenues, utilities and investments
Summary
Finance staff reported July 28 that general fund revenues are about $13.6 million (roughly 75% of budget), sales tax is slightly above benchmark, utility revenues lagged due to wet conditions, and the town holds about $38.2 million in invested assets; staff said debt service payments are largely on schedule.
At the Sunnyvale Town Council meeting on July 28, town finance staff presented the quarterly financial statements for the period ending June 30 and an investment report covering the same quarter.
Mikaela, a town finance presenter, said general fund revenues reached about $13,600,000, roughly 75% of the year’s budget. She reported property-tax collections above expectations (about 101%), sales tax collections at about 75.5% of budget and total sales-tax receipts roughly…
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