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County trims another $55K off looming budget deficit

Submitted by on October 18, 2019 – 3:36 amNo Comment
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Alpena County has been able to trim a little more off its projected general fund budget deficit for the fiscal year.

During a budget overview to the county’s finance committee Wednesday, Treasurer Kim Ludlow said that following third quarter adjustments, the shortfall has been lowered from an initial projected deficit of approximately $756,000 to a little more than $665,000.

The shortfall was around $720,000 at the end of August.

If the past is any indication of the future, the shortfall is likely to be much smaller when a final audit of the books in completed in 2020.

At the end of September, the county had brought in approximately $7.87 million in revenues and spent about $7.3 million. That left an estimated $5.38 million in the general fund budget. Revenues are running higher than one year ago and expenses are up less than one percent.