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Kearney working group reviews use-tax fund, seeks year-to-date budget column
Summary
At a work session, staff reported FY use-tax revenue expectations of $1.3 million, about $242,000 collected in the first two months and a year-end cash balance of roughly $835,000; board members asked staff to add a year-to-date budget projection column to better track volatility in receipts.
Speaker 3 (Unidentified) opened the fiscal discussion with the city’s use-tax report, saying the fund’s expected revenue for the fiscal year is $1,300,000 and that about $242,000 had been collected in the first two months.
"We had 800 and almost $835,000 in the in cash at the end of the year," Speaker 3 said, and noted the city had paid $11,916 in administrative fees and transferred $177,800 to the sidewalk construction fund. The report also reflected a roughly $143,700 debt-service…
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