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Spokane Q3 financial report: revenue slightly under budget, expenses modestly favorable
Summary
The Finance Department told the committee that through September general fund revenue trailed the budget by 0.5% while expenses were favorable by 2.2%; sales tax underperformance is driven by construction activity and property tax is down about 3.5% year to date.
Jessica Stratton presented the city's third-quarter general fund variance report (January through September), clarifying this is a cash-based variance report rather than a year-end accrual projection.
Stratton reported that general fund revenue was unfavorable to budget by 0.5% while general fund expenses were favorable by 2.2%. She explained that timing of receipts affects year-to-date revenue recognition:…
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