Finances took center stage Wednesday night at the Nevada City Council meeting where elected officials examined numbers from two fiscal quarters and discussed the city’s sales tax increase on the November ballot. Council reviewed the third- and fourth-quarter financial reports from fiscal year 2011-12 thanks to a presentation by finance director Catrina Olson. As of June 30, the city had $2.26 million in cash on hand and reduced its long-term debt from $386,151 June 30, 2011, to $163,738 at that same time this year. “Cash flow is different from fund balance,” Olson said. “Our fund balance still needs some work.” …