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Finance team reports mixed third-quarter results; council set to hold public hearing on budget amendment Nov. 20
Summary
Finance staff reported third-quarter variances including property-tax timing, lower gambling and development-service receipts, and several capital transfers; a mid-biennial budget amendment that reorganizes funds and moves projects into 2026 will go to public hearing Nov. 20 with a council vote to follow.
Finance staff presented the city’s third-quarter financial report and a mid-biennial budget amendment that reorganizes funds, adjusts beginning balances, and moves many capital projects into 2026.
Finance Director Sergei Salomon and Financial Technician Caitlin Rinke told council that property-tax receipts are at about 54% of budget (large collections come in May and November) and that gambling-tax receipts remain below forecasts because a local casino filed bankruptcy; some trickle collections have since resumed. Development-service fees (permits and related CED…
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