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McAlester finance director says October report shows a roughly $283,000 general‑fund shortfall; reserves below state target
Summary
At a regular council meeting, finance staff reported October revenues and expenditures and said the general fund showed an approximate $283,000 deficit after transfers; staff noted sales‑tax dependence, TIF payments, and that the city's emergency reserve remains below the state‑mandated 10% target.
Sherry Swift reported to the McAlester City Council that October financials show the general fund collected about $5.5 million — roughly 31.34% of the annual budget — while expenditures totaled roughly $5.6 million (30.88%), leaving “a deficit of approximately $283,000 as of right now,” Swift said.
The presentation summarized sales‑tax allocations and other major elements of the month's revenue picture. Swift said the city's total sales‑tax rate is 10%, which the report breaks down into state and local…
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