Glasgow Daily Times, Glasgow, KY

Local News

June 19, 2013

Trautman: City budget will change

GLASGOW — Mayor Rhonda Trautman expects the financial picture for the 2012-13 fiscal year to be better than originally projected as she and administrative staff members started preparing in March a proposed budget for 2013-14.

Revenue from the four main sources of general fund income for FY 2013, which ends June 30, was nearly $471,000 higher than expected by the end of May, the mayor said at a special-called meeting of the Glasgow City Council’s finance committee Wednesday. And that’s just for the 1-1 / 2 percent withholding tax and the net profit, minimum license and insurance fees, she said, adding that at least a few other areas had unanticipated revenue as well.

Plus, on the expense side, about $2.5 million in the fund is unspent right now, the mayor said, but she’ll still have checks to write for the month of June. Even with those, general fund expenditures are on track to be about between $800,000 and $1.4 million less than budgeted, she said.

“sed budget, but she was still concerned about the overall trend for the future and making sure that fund balance cushion doesn’t disappear.

 

Read more of this story in the print or digital Glasgow Daily Times. http://glasgowdailytimes.cnhi.newsmemory.com/

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