Home » Local News, Rotating Features

County treasurer projects lower deficit

Submitted by on December 13, 2019 – 12:34 amNo Comment

Alpena County is still projecting a large general fund budget deficit for the 2019 fiscal year.

During a budget update this week, Treasurer Kim Ludlow told the finance committee the books are still showing an estimated shortfall of a little more than $665,000.

However, Ludlow told True North Radio Network she believes the deficit will be closer to $250,000 to $300,000 when all is said and done.

The shortfall was estimated at approximately $756,000 at the beginning of the year.

At the end of November, the county had brought in approximately $9 million in revenues and spent about $8.7 million. That left an estimated $5.1 million in the general fund or savings account.

Revenues are running higher than one year ago and expenses are also up, but less than one half of a percentage point.