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Smithville reports modestly stronger revenues in 9-month budget update; board to review final FY2025 proposals in September
Summary
City staff told the Smithville Board of Aldermen that nine-month results show general fund revenues running about $400,000 over budget, driven by sales/use tax and interest income, while capital reimbursements and delayed projects shift costs into FY2025. Staff will return with refined scenarios in September ahead of an October adoption deadline.
City staff presented a nine-month budget update at a Smithville Board of Aldermen work session, saying general fund revenues are about $400,000 above budget while projected expenditures increased by just over $300,000, leaving a roughly $100,000 favorable variance.
The presentation, led by Speaker 3, summarized four budget amendments made during the year: a November 2023 amendment of $732,000 for carry-forward capital projects; a March amendment that included roughly $30,000 to the general fund; a May amendment of $45,000 to the general fund and $15,000 to the water and wastewater fund; and a May carry-forward of $460,000 for a commercial-street sidewalk project plus $1,000,000 for Streetscape Phase 3 charged to the utility fund.
Speaker 3 said much of the revenue strength came from sales and use taxes and higher-than-expected interest…
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