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Sherwood budget committee warns reserves could dip below 20% as revenues slow
Summary
Finance staff told the Dec. 4 budget committee that slower private development and a recently approved police contract reduce the city’s five‑year forecast, bringing the reserve just under the city’s 20% policy; staff said they will pursue schedule fixes and new revenue options.
City of Sherwood budget staff told the budget committee on Dec. 4 that the city’s five‑year forecast now dips just below the council’s 20% reserve policy, largely because of slower private development and costs tied to a newly approved police contract. Finance staff said the contract added a minimum of $307,000 to the forecast and that expenditures are outpacing revenues.
David, the city finance staff presenting the update, said private‑development‑related fees have softened and remain the primary revenue…
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