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Interim city manager warns of cash‑flow timing, schedules Feb. 18 work session on finances
Summary
Interim City Manager Craig Meadows told the council that Radford faces cash‑flow timing issues (not a near‑term insolvency), has outstanding AEP bills and a revenue anticipation note due June 30, and recommended a Feb. 18 work session to plan fiscal steps and budget decisions.
Interim City Manager Craig Meadows told the Radford City Council on Jan. 27 that the city’s cash position is positive but that timing and large utility bills have created a strain that requires an accelerated planning process.
Meadows said the city held roughly $2.9 million in cash when the city paid bills last week but is working through several months of outstanding AEP utility bills. He said other payables are current and that the city expects to pay a December…
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