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Northlake finance briefing: $77M book value, health‑plan negotiations may avert rate increase
Summary
Council received a third‑quarter investment and quarterly financial update noting a $77 million book value and about $421,000 in interest earnings; staff reported insurance negotiations that could reduce an expected 25% increase to no increase, and a revised proposed budget will be presented Sept. 12.
The Northlake Town Council received its third‑quarter investment and quarterly financial update on Aug. 22. Finance staff reported the town ended the quarter with a book value of approximately $77 million and interest earnings of about $420,000–$421,000. Staff said interest earnings remained flat from the prior quarter and noted expectations of federal rate changes in upcoming quarters.
Finance staff also said about 75% of the fiscal year has elapsed and roughly 50% of expected revenue has been booked; property…
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