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Finance director: March revenues at ~75%; motor-vehicle excise up, $1.8M snow-and-ice deficit to be covered from free cash
Summary
Finance director Patrick Burns told the Springfield City Council March revenue and expenditures are each ~75% of the fiscal year, motor-vehicle excise revenue rose to $12.8 million, and a $1.8 million snow-and-ice deficit will be covered from free cash; council approved three small grants under $100,000.
Patrick Burns presented the March revenue-versus-expenditure report at the council meeting, telling members the city is at roughly the three-quarter mark for both revenues and expenditures and highlighted two items of note: higher motor-vehicle excise receipts and a sizable snow-and-ice deficit.
"Our motor vehicle excise revenue through March 31 is $12,800,000," Burns said, noting the figure is up from $11,200,000 at the same point last year. On expenditures, he said the snow-and-ice deficit currently stands at $1,800,000; Burns said the plan is to address that deficit before the end of the…
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