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Finance director: Red Bluff's general fund showing continued declines; sales-tax quarter-percent shortfall covered by reserves
Summary
Finance Director Paul presented a fourth-quarter budget update showing multi-year declines in the general fund balance, department variances driven largely by vacancies and capital timing, and concerns that a quarter-percent sales-tax shortfall is being covered by the general fund.
Finance Director Paul presented the city's fourth-quarter budget update on Oct. 21, telling the council that estimated actuals for the prior fiscal year and the current budget picture show continuing pressure on the general fund.
Paul said the city closed the last fiscal year with variances that were generally positive against budget but that the overall picture remains one of declining reserves. "Currently it's looking like the general fund will be decreasing about 1 point, to $9,000,000," Paul told the…
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