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Budget update: tree grant adjustment and revenue trends push tracked receipts higher
Summary
Staff reported a $7,400 adjustment for a tree-planting grant and said sales-tax distributions and development-fee revenue are trending higher, noting a tracked revenue figure around $2 million and planned contingency adjustments in the budget revision.
Staff reviewed several line-item adjustments in the current budget revision, including a $7,400 increase in state grants to cover a tree-planting project; the expenditure was recorded to the appropriate maintenance/cleanup line. Staff said the city is "tracking well with our revenues" and that development-fee receipts have exceeded expectations.
Committee members noted contingency reductions in the revision and asked whether that left the city exposed; staff said there is an expected sales-tax distribution that has not yet been posted to the revision and that overall tracked revenues have reached roughly $2,000,000, which they view as covering the planned expenses and contingency reductions.
