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Officials say audits will be caught up and potential outside financing could speed Alexander City capital projects
Summary
Councilors and staff reported an $8.5 million general‑fund position, described true reserves of roughly $2.9 million, and said outside lenders have signaled interest in financing capital projects if audits are brought up to date; superintendents were asked to deliver project plans by June 1.
City officials used the council meeting to outline the city’s near‑term fiscal position and to flag a possible near‑term opportunity to accelerate capital projects.
A council speaker highlighted that Alexander City’s utility collections were strong: “our people in Alexander City last month's cycle paid 99.6% of the billings,” a remark used to illustrate local revenue reliability. City finance staff reported the general fund balance at $8,500,000 but…
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