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Finance staff outlines budget amendment, seeks fund-balance appropriation; water, sewer and rental accounts reported favorable
Summary
City finance staff told council general fund revenues lagged earlier estimates and proposed a fund-balance appropriation to cover short-term variances; enterprise funds such as water, sewer and sanitation reported favorable results in the presenter's review.
City finance staff told the Whiteville City Council that general fund revenues were roughly $514,000 below earlier estimates and presented a proposed first budget amendment that would use fund-balance appropriation to smooth near-term variances, the presenter said.
The presenter said forecasted revenues are about $514,000 lower than previous estimates and that offsetting expense reductions put current variances close to $519,004. He highlighted two specific items driving the request: a roughly $50,000 increase in the…
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