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Quarterly report: Kent County general fund revenues up, interest earnings down; fund balance remains strong
Summary
County fiscal staff reported for the quarter ended March 31 that general fund revenues rose about 10% year-over-year to $67.4 million, expenses increased about 11.5% to $104.16 million, and fund balance improved to $113.8 million; interest earnings declined 48%.
County fiscal staff presented the quarter-ended-March-31 financial status report showing overall general fund revenues of $67.4 million (up about 10% from the prior year) and expenses of $104.16 million (up about 11.5%). Staff said they continue to expect the general fund will end the fiscal year with revenues exceeding expenditures.
Key variances noted: taxes were up 32% to $25.4 million, which staff attributed to timing of collections; charges for services…
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