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Northlake reviews budget priorities, quarterly finances and a shift to two‑day watering
Summary
Council received the FY24 Q2 investment report and budget focus areas, discussed a proposed move to a two‑day year‑round watering schedule and smart‑meter deployment progress; staff said smart meters are 65% complete for commercial accounts and about 4% for residential.
At its May 23 meeting, the Northlake Town Council heard the second‑quarter fiscal report and a staff briefing on budget focus areas and proposed water‑conservation updates.
Finance staff reported the town’s investment book value at nearly $54 million at quarter‑end, a $5 million decrease from the prior quarter driven by capital project payouts (including the Star Center and Cleveland Gibbs South). Interest earnings were reported at roughly $422,000 for the quarter. Staff walked council through revenue and expenditure percentages for the general fund and capital projects, described GO bond proceeds already…
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