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Waynesboro staff report midyear finances; council hears possible consolidated borrowing for three projects
Summary
City finance staff reported FY2026 midyear results: general fund revenues about 69% collected, expenditures about 51% used; real estate tax collection at 99.3%; meals tax collections through December $4.3 million after rate increase. Staff flagged three near-term borrowings for major capital projects and discussed potentially combining them into a single local issuance to save costs.
City finance staff told the Waynesboro City Council on Feb. 20 that revenues and spending through the second quarter of fiscal year 2026 are tracking broadly in line with expectations and outlined near-term borrowing needs for several capital projects.
"Now that we are six months into the fiscal year, revenues and expenditures across all the funds are trending as expected," finance staff said, reporting that general fund revenues…
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