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City finance staff reports healthy reserves and on‑track revenues through March; capital balances remain for projects
Summary
Finance staff told council the combined fund balance was about $43.1 million as of March 31, general fund cash increased since the start of the year, sales-tax collections are on track, and about $12.3 million remained in capital project budgets as staff prepared a capital bid package.
Murphy’s finance staff presented the city’s second-quarter financial report for the period ending March 31 at the May 6 City Council meeting, reporting a combined fund summary of roughly $43.1 million and saying overall financial condition appears healthy.
The presenter said general fund cash openings were about $11 million at the start of the fiscal year and that actual…
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