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Finance director: Wood Village on track to meet revenue projections; budget work underway
Summary
The finance director reported the city is on track to meet budgeted revenue seven months into the fiscal year, noted interest income remains higher than expected, and said staff will begin loading priorities into line items and rolling forward capital proposals ahead of the budget hearing.
The finance director reported that, seven months into the fiscal year, the city appears on track to meet budgeted revenue and is unlikely to exceed or fall short materially. Interest revenues are stronger than anticipated, which staff said is a favorable trend for the year.
"We are on track to hit our budgeted revenue based off of kind of where we are 7 months into the year," the director said. Staff described an immediate schedule to meet this week and next to load retreat priorities into line-item budgets and to review capital proposals ahead of the budget hearing; the team expects to finalize capital project recommendations in the next 3–4 weeks.
Councilors asked clarifying questions and were reassured the general fund and utilities remain in reasonable shape; no additional fees or rate changes were proposed at this time.
