City revenues outpacing expenditures in first quarter of 2013

General Fund revenues for the city of Lynnwood have exceeded actual expenditures for the first quarter of 2013, according to the 2013 1st Quarter Report from finance director Lorenzo Hines Jr.

As of March 31, 2013, actual General Fund revenues were $10,927,462, exceeding actual expenditures of $10,006,351 by $921,111.

The first quarter revenues of $10.9 million were an increase over the same period in 2012 by 10.16 percent. Sales tax revenues were up by $531,000, reflecting a 12.6 percnet increase over the same period in 2012. Business taxes were up by 6.2 percent or $62,240. All departments were generally remaining within the budgeted expenditure limits.

The complete 2013 1st Quarter Report may be access here.

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