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County ends 2019 with audited deficit of $500K

Submitted by on July 30, 2020 – 12:56 amNo Comment

For the first time in many years Alpena County has ended a fiscal year with a general fund budget deficit.

During a year-end audit of the 2019 books this week, it was revealed that revenues came in at approximately $9.48 million and expenses at $9.98 million for a shortfall of just over $500,000.

That was down from the county’s original projected deficit of nearly $756,000.

The county still has a very healthy general fund balance or savings account of over $4.6 million or 46.5 percent of expenses. That is approximately three times higher than what many other municipalities have in their fund balances.

The year-end audit was conducted by Straley, Lamp & Kraenzlein.

The county is projecting a deficit of over $1.3 million in the current fiscal year.