|
Most revenue sources on target through first quarter
ATTLEBORO - So far, so good for this year's budget.
Director of Budget and Administration Barry LaCasse told the city council Tuesday that he's "cautiously optimistic" revenues and expenditures will meet at the end of the fiscal year, based on trends to date.
Most revenue sources are coming in at or near the expected 25 percent level for the first quarter, he said.
Some revenue categories such as excise taxes, miscellaneous and Medicaid reimbursements, however, are much lower because they typically come in later in the year, LaCasse said.
"Overall, we're looking pretty good as far as collections are concerned," he said. Water and sewer collections are also on target at rates of 23 percent and 24 percent, respectively. Expenditures are also within limits, with one exception.
The city has spent $51,000 to keep its playing fields green, after budgeting only $57,000 for the expense.
LaCasse said the city will need a $20,000 appropriation from the reserve account to meet water expenses for the rest of the year. "Other than that, expenses are on target," he said. "The spending by department heads is very prudent. I think they understand that dollars are very important now."
And, a tight hold on the purse strings last year by Mayor Kevin Dumas and his department heads has paid off with a $1.6 million surplus - also known as free cash. That is not part of the budget and city officials hope to keep it in reserve.
|