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City of Alpena’s budget holding strong 10 months into fiscal year

Submitted by on June 9, 2010 – 5:52 amNo Comment

The budget picture for the City of Alpena is looking good for the fiscal year that ends June 30th.

City Treasurer Karen Hebert says through April 30, revenues and expenses should be at 83-percent of budget.  Revenues were at 90-percent and expenses at approximately 73-percent.

Hebert said state revenue sharing payments are falling behind but she expects them to catch up before the end of the fiscal year.  She noted that income from investments is down about $30,000 from one year ago.  Tax collections have helped keep the city afloat.

Hebert estimates the city’s fund balance will come in at approximately $2.18-million by the end of the fiscal year, or about 24-percent of budget.  That is up slightly from the $2.16-million that was in the fund at the start of the year.