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Finance officer reports July/August revenue, warns of temporary general fund shortfall and TIF transfer plan
Summary
The finance officer reported July revenue of $3.1 million and expenditures of $3.2 million, noted a negative general fund balance (~$1.6M), and proposed transferring roughly $400,000 in TIF proceeds and recommending budget amendments to restore the fund balance.
The council heard a detailed finance update covering July and August revenues and capital projects. The finance officer said in July the city received $3,100,000 in revenue and expended $3,200,000 and noted continuing work on sewer upgrades and the Cheyenne Westgate project. "In July, I received $3,100,000 in revenue, with a breakdown... and expended 3,200,000.0," the finance officer said.
The officer said the general fund currently appears to show a…
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