Woodstock will review its finances Tuesday.
Woodstock will review its finances Tuesday.
The Woodstock City Council is scheduled to discuss quarterly financial reports during its meeting at 7 p.m. Tuesday.
A memo from Finance Department Director Paul Christensen said his department has completed the third quarter revenues and expenditures report and investment report covering the fiscal period from May 1 to Jan. 31.
The report indicates that city revenues have increased over this period and revenue generated from sales tax showed a 4 percent increase. It also notes that income tax has recorded approximately 88.8 percent of the budget compared to the 75 percent expectation. The Finance Department anticipates that income tax revenue will exceed the budget by $218,000.
For the city, 23 funds or at or exceeding budgeted amounts and nine of these are exceeding budgeted expenses. The investment report notes that funds have performed well.
Alerts Sign-up