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Finance staff presents June 30 monthly and Q2 capital reports; general fund revenues at 63%
Summary
City finance staff presented the June 30 monthly financial report and Q2 capital fund summary showing a $92.2 million adjusted capital budget, general fund revenues at 63% ($92.9 million), and a $58 million cash position with most funds invested in the Pennsylvania Local Government Investment Trust.
At the Allentown City Budget & Finance Committee meeting on July 23, city finance staff reviewed the June 30 monthly financial report and the second-quarter capital fund status.
For Q2, the capital fund's adjusted budget was reported at $92,200,000, with year-to-date expenditures of $6,700,000 and an additional $6,990,000 encumbered for future spending. Departments with active capital projects included public works, police, and parks and recreation, the presenter said.
As of June 30, general fund revenues were 63% of the annual budget, totaling $92,900,000. Tax receipts comprised the…
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