City’s finances look good with end of fiscal year in sight
Through the end of May, or 11 months into the 2011-12 fiscal year, revenues and expenses should be at approximately 91.7 percent of budget.
Treasurer Karen Hebert told the municipal council this week, that revenues were at 94 percent of budget and expenses at only 86 percent. That means the city has taken in more revenues this year, and at the same time held purchases to a minimum.
Hebert said the water and sewer funds are below their projected levels, but noted plans are in place to fix that in the future. The biggest change will come with the installment of new water meters that are more accurate than the old ones.
That means the city will collect more revenue on the water and sewer service it provides.
The city’s fiscal year runs from July 1 through June 30.