At the budget workshop before Monday’s council meeting, Finance Director Lonnie Clark reported the General Fund revenue through the end of October was running 6.21 percent below budgeted expectations but expenses were 9.13 percent below budget, so the General Fund was positive by $204,817. Clark acknowledged department heads for taking the spending freeze seriously and sticking to budgets.
His chart of comparative bank balances showed the city had a balance at the end of December 2011 of $4,849,154 whereas the balance at the end of October 2018 was $5,397,298 with two months left in the year. Sales tax revenue through the end of October equaled $1,778,826, and the total for same period in 2017 was $1,689,798.
In addition, Clark said property taxes will begin coming in soon and should be reflected in next month’s financials. “I think it looks pretty darn good,” Clark commented,
Alderman Bob Thomas concurred, saying, “Who wouldn’t be pleased with this!”