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Webster Groves finance director reports midyear budget numbers; projects narrower deficit than originally budgeted
Summary
Finance director presented a quarterly update showing a $1.2M budgeted deficit but a December 31 snapshot with $2.1M more spent than taken in year-to-date; investments total about $32.5M and staff said, under optimistic assumptions, the city could end the year $600,000 ahead though several risks remain.
The city’s Director of Finance presented a second-quarter/all-funds budget update (excluding Destination WG bond proceeds) and a midyear analysis.
Key figures the director reported included a budgeted general-fund deficit of $1.2 million for the year; at the December 31 snapshot the city had taken in roughly $2.1 million less in revenues than it had spent year-to-date…
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