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Finance director warns July cash‑flow hits as council receives first‑quarter budget review
Summary
Finance staff briefed the council on revenue timing and a tight first‑quarter cash position, noting two large July payments (each described as over $1 million) and an estimated $1.7 million in outstanding grant reimbursements that are straining reserves. Staff proposed faster, more frequent reimbursement submissions and tighter monitoring.
Soledad, the city’s finance director, told the council that Lindsay’s general fund depends heavily on monthly receipts and that timing makes the first quarter particularly tight for cash flow. She said monthly receipts—sales tax and utility user fees—account for a large share of the general fund while property taxes…
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