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City releases first quarterly financial update; investment report shows higher yields tied to interest rates
Summary
City finance staff presented a new quarterly financial report showing unaudited beginning balances, timing considerations for revenues and expenditures, and an investment report showing elevated yields consistent with higher fed funds; council requested short executive summaries for public readers and approved the investment report.
Finance staff presented the city's first quarterly FY25–26 financial update and the quarterly investment report. The financial update provided unaudited beginning balances (June 30), revenues and expenses through Sept. 30 and ending fund balances, with staff noting standard timing issues (accruals, construction funds and late invoices). Staff said…
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