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McGregor finance director reports November shortfall in general fund, improved utility cash flow
Summary
Finance presenter Lee told the council the general fund’s net cash flow was $233,200 lower than the previous year (revenue down $52,000; expenditures up $180,000), citing timing and a $299,800 payment to the Waco Industrial Foundation; utility fund cash flow improved, driven by higher water use.
The McGregor City Council received its regular financial briefing for November on Jan. 13, when finance presenter Lee walked the council through fund-by-fund performance and timing differences.
Lee said November represents 16.67% of the fiscal year and reported that the general fund’s net cash flow was $233,200 lower than in the same period the prior year. Lee attributed that change to a $52,000 decline in revenue (primarily ad valorem tax receipts) and an increase in expenditures of about $180,000, including a scheduled payment to…
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