City In Excellent Financial Shape

The City of Redmond's Director of Finance, Ms. Files, gave a very encouraging monthly finance report to council on January 24th.

1.  All city departments are under budget.
2.  Revenues are up 13% owing to one-time revenue from taxes on construction projects.
3.  Expenditures are lower owing to:
        - $3M economic contingency fund adjustment.
        - $6M salary and benefit savings owing to turnover pay.
        - $2M adjustment of one-time project monies in the general fund.

-- Source:  Council Committee of the Whole meeting, 1/24.