Glasgow Daily Times, Glasgow, KY

July 26, 2013

It's a taxing question: How the City of Glasgow gets and spends its money?

Glasgow Daily Times

GLASGOW — During the final quarter of the City of Glasgow’s 2012-13 fiscal year, budget preparations for this year included discussions of squeezing more work from fewer employees, consideration of whether certain services should be cut and what capital improvements/repairs can wait even longer and questions fluttering about regarding whether certain kinds of entities should be exempt from some kinds of taxes.

The general fund budget that was proposed and ultimately passed had $1.2 million more in expenses than expected income, with the difference being made up by the city’s rainy-day fund – called the fund balance – which is money left over from previous years’ budgets after all revenue and expenses are resolved. The fund balance has steadily decreased over the past five years.

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