Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Oswego finance director reports first-quarter surplus, sales-tax growth and delayed $20 million bond sale for Lake Michigan connection
Summary
Finance Director Andrea Lambert reported a stronger-than-budgeted first quarter for Oswego’s general and water funds, with a general-fund surplus driven by sales tax and a $20 million bond sale delayed to July to fund Lake Michigan connection work.
The Village of Oswego received a positive first-quarter financial report on June 10, with the general fund showing a surplus and sales tax continuing year-over-year growth, Finance Director Andrea Lambert told the board.
Lambert reported general-fund revenues of approximately $7.5 million and expenditures near $5.4 million for the three-month period, producing an ending surplus of about $2.0 million. She said the village’s annual budget shows a planned, one-time deficit of $575,000 because of a transfer from the general fund to the capital fund for the public works facility; excluding that transfer the operating budget is balanced for the year-to-date period.
O…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
