|
 |
| |
 |
| |
 |
| |
 |
| |
 |
Current Issue Links
City finance director gives mid-year budget
Council recommends access on Walmart project, moves ahead with housing project
A spending freeze at City Hall has offset a budget deficit and trickling revenues for the first part of the year,
according to a staff presentation of the mid-year budget report at Wednesday’s Ridgecrest City Council
meeting.
City Finance Director Tyrell Staheli told members of the council that despite spending more money that it is
collecting, the city is on target compared to year-to-date trends.
He explained that most of the local taxes and other revenues are not collected until later in the year, leaving
the city with a negative cash flow of some $1.3 million for the first part.
“We’re still OK,” he said, since the city has reserves and an ending fund balance from last year to tide it over,
“but it just shows how upside down the first part of the year is.”
However, in light of the city’s recent financial report from an outside auditor, this could pose a problem for the
city next year.
according to a staff presentation of the mid-year budget report at Wednesday’s Ridgecrest City Council
meeting.
City Finance Director Tyrell Staheli told members of the council that despite spending more money that it is
collecting, the city is on target compared to year-to-date trends.
He explained that most of the local taxes and other revenues are not collected until later in the year, leaving
the city with a negative cash flow of some $1.3 million for the first part.
“We’re still OK,” he said, since the city has reserves and an ending fund balance from last year to tide it over,
“but it just shows how upside down the first part of the year is.”
However, in light of the city’s recent financial report from an outside auditor, this could pose a problem for the
city next year.
| |||||||||||||||||||||||||||||||||
| section B: |
| Health |
By REBECCA NEIPP,
News Review Staff Writer
News Review Staff Writer