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Monthly financial update: revenues near budget, reserves at ~18% and tax receipts mixed
Summary
Finance staff reported general fund revenues 1.3% above budget through January and an unreserved fund balance of about 18.1% (roughly $850,000 per 1%); sales and use tax receipts showed modest increases and staff noted county plans to phase clawbacks over multiple years.
Finance staff presented the monthly financial statements through January and highlighted revenue and reserve trends for the committee.
"Total general fund revenues were trending 1.3% above budget and about 4.6 higher than the last fiscal year," Melissa said, describing year-to-date comparisons. She reported the city's unreserved general fund balance at about 18.1% and…
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