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Ludlow gives commissioners budget update one month into fiscal year

Submitted by on February 21, 2020 – 12:50 amNo Comment

Alpena County Treasurer Kim Ludlow provided commissioners on the finance committee with an update on the 2020 general fund budget this week.

The county spent over $1.2 million during January and brought in a little more than $405,000.

Revenues were a little lower than one year ago and expenses a little higher.

The county started the new year with an unaudited general fund balance of approximately $4.3 million. On January 31 that balance stood at an estimated $3.5 million.

The county’s general fund balance will continue to dwindle until sometime in July when property taxes begin to trickle in.