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Raytown finance director presents unaudited FY24 results and ARPA commitments as board eyes spending plans
Summary
Finance Director Michael Graham presented an unaudited fourth-quarter report showing roughly $27.8 million in combined fund balances, strong sales-tax growth and ARPA project commitments of about $5.2—$5.3 million. Board members pressed staff on franchise fees, utility impacts and project timing.
Michael Graham, Raytown's finance director, told the Board of Aldermen April 1 that the city's unaudited fourth-quarter financial report shows total fund balances of roughly $27.8 million and that sales tax and grant receipts were major drivers of the year's income.
"This is unaudited, meaning that it doesn't include numbers that may be adjusted on our financial statements when the auditors are done with their field work," Graham said as he opened his presentation, stressing the numbers are preliminary.
Graham told the board sales tax was up roughly 17% year over year and franchise fees rose about 6%. He noted the general fund's collection rate moved toward an expected 90% as the year…
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