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Newcastle finance staff: third‑quarter revenues and expenditures roughly 75% of budget; investment interest strong
Summary
City finance staff told the council on Nov. 18 that third‑quarter revenues and expenditures are near 75% of budget through Sept. 30, driven by building permits, impact fees and investment interest, which is on pace to exceed 2025 budget estimates; some timing differences will increase fourth‑quarter expenditures.
Maria, a member of the city finance staff, presented the third‑quarter financial report to the Newcastle City Council and said most funds were on track at about 75% of the annual budget through Sept. 30. She attributed higher‑than‑expected revenues earlier in the year to building permits, impact fees and…
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