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Poulsbo reports stronger‑than‑expected 2024 receipts; sales tax up slightly, real‑estate excise tax above budget
Summary
City finance staff reported the 2024 year‑end results: sales tax receipts were modestly above budget, real‑estate excise tax collections exceeded forecasts, and several one‑time revenue items improved the general fund balance going into 2025.
Finance Director Deb presented the city’s preliminary year‑end financial results for 2024 on March 12, reporting revenue collections that came in above conservative budget forecasts and leaving the general fund stronger than planned.
Deb said the city budgeted $5.5 million for sales tax revenue in 2024 and received about $5.672 million, roughly 1–2% above the budgeted figure. She told council that retail trade showed softness while construction and some wholesale activity supported year‑to‑date totals; the city’s…
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