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County budget update through April

Submitted by on May 26, 2020 – 12:30 amNo Comment

Alpena County continues to face a general fund budget deficit of over $1 million in the current fiscal year.

That deficit ballooned to over $1.5 million in April, however $500,000 will be paid back to the general fund once the county is reimbursed by the federal government for costs associated with the new airport terminal.

Treasurer Kim Ludlow informed the finance committee this week, that as of April 30, revenues were below budget but slightly ahead of last year’s pace. That was offset by higher expenses than one year ago.

The county started the fiscal year with an estimated general fund balance or savings of approximately $4.3 million. That amount stood at an estimated $2.3 million at the end of April.

The general fund will start to grow in July, once property taxes begin to trickle in.