As the new year approaches, city officials are proud to report a General Fund balance of $7.97 million, up more than $2 million over last year. These funds may be used for general operating purposes.
“We are very fortunate to have had a strong year financially in Fiscal Year 2017 throughout city government,” said City Manager Butch Sanders. “We have added substantially to our fund balance and that’s a testament to our Department Directors and employees.”
Last year the General Fund had a general fund balance of $5.48 million.
Several factors leading to the increased surplus include: Combined tax revenues exceeded budget by $257,599; building permits were over forecast by almost $80,000 signaling a renewed local construction economy and sale of unneeded and unused city property added over $250,000.