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Council auditor flags lower state shared revenue, department variances and JTA budget risks
Summary
Kim Taylor, the council auditor, told the committee that first‑quarter projections show a slight overall negative variance, a $9.2 million projected decline in state shared revenue (half‑cent sales tax), and debt‑service savings of about $14.1 million; she urged continued monitoring and flagged several independent authority and JTA budget issues.
Kim Taylor, council auditor, presented the Finance Committee’s quarterly report (Report No. 900) and walked members through first‑quarter trends in the general fund and independent authorities. "For revenues overall, projected to be slightly down from budget about 5,600,000," Taylor said, and she singled out a projected negative of roughly $9.2 million in state shared revenue driven largely by declines in the half‑cent sales tax.
Taylor noted offsetting items, including a projected $14.1 million in debt savings tied to recent debt issuance timing. She said the budget office projects…
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