City Council met for a budget workshop on Monday before its regular meeting, and Finance Director Lonnie Clark began by providing the February 2019 financial summary year-to-date.
Overall revenues and expenses both fell slightly under projections with expenses running 2.04 percent over revenues for a net loss of $45,134.
“I think that is really pretty good, considering that we are pulling sales tax revenue from the last two months of the year,” Clark said.
January and February city sales revenue comes from November and December sales tax earnings which were $332,177 year-to-date, $10,544 over the same months one year prior.
Bank balances total $4.4 million and alderman Terry McClung noted there is in excess of $779,000 sitting in the street fund account. McClung asked Clark if there are projects planned to use these funds, particularly for repairs.
Clark stated he wasn’t made aware of any, “That’s kind of out of my ballpark.” Mayor Butch Berry said there are plans for 2019 street repairs but no detailed report was provided.