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Milton reports stronger-than-expected third-quarter revenues; TIB grant boosts SR 99/Porter Way project
Summary
Interim Finance Director Michelle Robec told the city council that most operating funds are above the 75% baseline through the third quarter, with general fund revenues at 85.5% and capital grants including about $2.5 million in TIB funding for the SR 99/Porter Way project.
Interim Finance Director Michelle Robec told the Milton City Council on Nov. 10 that the city's third-quarter revenues are generally ahead of expectations and that several funds are showing healthy balances heading into year-end.
Robec said the city uses a 75% baseline for third-quarter activity, and reported general fund revenues of 85.5% and expenditures at about 68%. "Revenues look great at 85.5% with all revenue categories above 75%," she said. She noted the asset replacement fund is at 77.2% and that the capital improvement fund includes about…
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