Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
City reports January finances: $845,442 deficit; council approves monthly report
Summary
Snyder City reported $3.3 million in revenues and $4.2 million in expenditures for January, a $845,442 deficit (an increase of less than $10,000 from the prior month); property tax collections were at 66% (about $1.9M of $2.9M budgeted).
Snyder — At its March meeting, the Snyder City Council reviewed and approved the January monthly financial report showing a year-to-date deficit of $845,442.
City staff reported revenues of $3,300,000 and expenditures of $4,200,000 for January, leaving an $845,442 deficit, which staff characterized as an increase of less than $10,000 from the previous month. Sales-tax receipts shown in the report included $311,000 in October and $352,000 in November (as listed in the packet). Property tax collections were reported at 66% of the anticipated $2.9 million (about $1.9 million collected to date).
Committed items from the prior year remaining in the report included a $25,000 façade grant, a $5,400 bridal point, and a $390,000 brush truck; council approved the monthly financial report by motion.
What happens next: council approved the report and staff will continue budget monitoring and follow up on committed items and capital expenditures as needed.
