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City finance officials report stronger receipts, Moody’s affirms Houston credit rating
Summary
Deputy Controller Will Jones and Finance Director Dabowski reported higher-than-expected property- and sales-tax receipts for the year to date, producing a stronger projected fund balance and a Moody’s affirmation of the city’s credit rating; officials warned revenue projections remain sensitive to month-to-month volatility.
Deputy Controller Will Jones and the city finance director told the Budget and Fiscal Affairs Committee on July 8 that year‑to‑date revenues ran ahead of earlier expectations and that the city’s fiscal position had improved, even as officials cautioned that some projections remain volatile.
Jones said the controller’s office projects a May 31 ending general‑fund balance of about $370.1 million — equal to 14.3% of expenditures excluding debt service — and noted that figure is roughly $38.6 million lower than the finance department's projection. Finance staff reported its own ending‑fund projection of about $408.7 million, up $27.9 million from the prior month.
Those upward revisions reflect recent stronger…
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