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City finance report: May cash down after large payments; year‑to‑date revenues remain near budget
Summary
City Manager Luckett reviewed May financials showing total cash and investments of $50.5 million, a month‑over‑month decrease driven largely by a $7.2 million payment to Cherokee County for fire services and capital project reimbursements; year‑to‑date general fund revenues were about 95.5% of budget.
City Manager Luckett reviewed Canton’s May financial report July 17, reporting cash and investments of $50,500,000 and noting a roughly $11,000,000 decline from the prior month primarily tied to a $7,200,000 payment to Cherokee County for fire services and capital project payments.
Luckett said the city’s all‑funds revenue budget…
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