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City accountant: third-quarter finances on pace pending Urban Renewal transfer
Summary
City Accountant Myers reported city-wide revenues at 51% of budget year-to-date and total expenditures at 47%; he said a substantial Urban Renewal Agency transfer expected in May will materially increase year-to-date revenues and that property-tax collections stand at 98% of budget.
City Accountant Myers presented the third-quarter financial report for fiscal year 2026 and told the council city-wide revenues had reached about 51 percent of the total budgeted amount to date. He said a substantial Urban Renewal Agency (URA) revenue transfer expected in May would significantly raise that figure.
Myers reported property-tax revenues were at about 98 percent of budget and interest earnings at 95 percent. He said total expenditures were about 47 percent of the annual budget, with personnel services at 70 percent and materials and services at 68 percent; Myers warned expenditures will increase as funds flow toward the Bolton Hill Sports Complex.
