Where the city ‘found’ $750K
It’s not often that you realize you have nearly $750,000 more than you thought you did.
But that’s the case for the City of Warren as the dust settles on the 2013 fiscal year, where revenues came in $739,343 over expenses.
With a total budget of $8,276,194, the total is nearly 10 percent of the budget.
In an email from City Manager Nancy Freenock, citing figures from Finance Officer Donna Risinger, a host of factors led to the fund balance increase from $1.5 million to $2.5 million, with $331,000 kept in reserve.
“EIT (Earned Income Tax) was budgeted at $2,975,000,” Risinger said. “We actually received $3,710,703 an increase of $735,703 with $643,776 received in December.”
The local services tax also came in $24,730 higher than budgeted.
But the increases in revenue go much deeper than taxes and include revenue increases from city services.
Street and curb permits were $159,837 higher than budgeted. Building permit revenue exceeded budget by $61,497.
EMS revenue from the city’s ambulance program also came in $64,305 higher than anticipated.
“The HUD (Housing and Urban Development) grant, $63,762, that had been removed from revenue to audit finding was added back in,” Risinger said, noting that the auditor may not allow this to stay in current revenue.
And other increases were seen through savings.
“Wages and benefits was $66,109 less than budget,” Risinger said. “Gasoline, chemicals, small tools and other supplies were $50,626 under budget. Utilities were $7,694” under, as well.
In addition to temporary contracted labor coming in $28,207 less than the budgeted amount, the city only spent $223,653 of $360,435 set aside for capital equipment purchases.
Council spent nearly all of the surplus during its meeting on Monday.
Action was taken to allocate an additional $515,000 towards 2014 paving projects as well as the purchase of two five-ton dump trucks, valued at approximately $224,000.