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City finance staff reports modest surplus; Board of Education remains overbudget
Summary
At a joint meeting, a city staff member reported a projected city general-fund surplus while the Board of Education still shows several million in overexpenditures; the council was reminded the Board of Finance-adopted budget and mill rate will go to a joint meeting next week.
Diane, a city finance staff member, told the City Council and Board of Finance that the city is projecting a modest revenue surplus and continued close monitoring of the school budget.
"Overall, there will be a revenue surplus that I'm estimating at about 1 and a half million dollars," Diane said, adding later that, "conservatively, 2 and a half to $3,000,000" could be available on the city side if current trends hold.
The monthly financial snapshot presented to the council showed revenues generally in line with projections and stronger investment earnings than expected. Diane said encumbrances on…
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