June Monthly Finance Report

Redmond Finance Director Chip Corder

June 27th, 2021 Monthly Finance Report:  

Total revenues are ahead of target by approximately 35%, or $16.5 million.

· Sales tax exceeds target by approximately 77%, or $9.1 million. One-time sales tax on construction continues to be the revenue driver at $7.6 million for the year, with $1.3 million received in June. 

· Utility taxes are below target by approximately 1.9%, or $113,000. This is an improvement over prior months due to a large payment received for unpaid electric utility taxes. 

· Intergovernmental revenue is ahead of target by approximately 73%, or $5.1 million, mostly due to the receipt of the 2021 American Rescue Act Plan allocation. 

· License & permit revenues exceed target by 34%, or $2.3 million. · Total expenditures are below target by approximately 8.50%, or $4.3 million.

-- redmond.gov