City receives favorable mid-year budget review
By Matt Ward —
A recently completed internal review of the City of Fredericksburg’s 2013-2014 budget shows net gains in the city’s general fund and most enterprise funds, according to a presentation made to the city council Monday evening by city finance director Brad Kott.
This year marks the first time the city has completed a mid-year budget review, which will allow city staff to identify problem areas and recommend corrections if needed; use first six month results to better forecast yearly results; and to recommend any needed budget amendments.
General fund revenues are expected to be above projections by $174,200, with the bulk of the increase ($110,000) coming from sales tax revenues.
Expenditures in the fund are projected to be $80,400 over budget, but the projected added revenue in the fund will result in a net gain of $93,800.
For more on this story, read this week’s print and online editions of the Fredericksburg Standard-Radio Post. If you are a print subscriber, your full online subscription is free. All you need to do is call 830-997-2155 to get a password. If you are not a subscriber, call 997-2155 or click on the ‘Subscribe’ button on the left side of the home page and sign up today!