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Hopkinsville reports 40.1% unassigned cash, finance staff says city remains above reserve standard
Summary
City finance staff reviewed January financials, reporting an unassigned cash balance equal to 40.1% of the adjusted operating budget, positive year-to-date revenue over expenses, and departmental expense rates above the nominal monthly target because January included a third pay period.
Amy Clayton, city finance staff, reported the City of Hopkinsville's January financial statement and said the city's unassigned cash balance was 40.1% of the adjusted operating budget.
Clayton told the Hopkinsville City Council that January included two interfund transfers totaling $11,000—$4,000 to the Salvation Army for the warming shelter and $7,000 to information technology for audio-visual work in the council chamber—and that year-to-date general fund revenue exceeded expenses by $1,607,901. She reported year-to-date payroll tax, property tax…
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