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Owensboro posts stronger-than-expected FY 2023-24 results; staff to file report for audit
Summary
City finance director reported higher-than-budgeted revenues and lower-than-budgeted expenditures for FY2023-24, driven by net profits, interest income and insurance premium fees; the commission voted to file the report for audit and discussed prospects for a bond rating upgrade tied to upcoming fire station projects.
Owensboro—s director of finance told the Board of Commissioners on Aug. 6 that the city closed fiscal year 2023-24 in a "financially and fiscally sound position," reporting revenue and expenditure variances that exceeded expectations.
Angela Wanninger, director of finance and support services, said monthly revenues for June totaled $12,324,977, slightly above the budgeted $12,219,005.43, a variance of $105,004.34. For the 12 months ended June, she said actual general fund revenues were $82,329,975 compared with budgeted revenues of $78,478,196, a variance of $3,851,779 driven primarily by higher net profits, increased…
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