County budget update: Revenues up/expenses down

Alpena County has collected more revenues and spent less money
through August compared to the first eight months of 2019.

That’s according to Treasurer Kim Ludlow who provided the county’s
finance committee with a snapshot of the general fund budget
Wednesday.

Ludlow said revenues stood at 64.15% of budget at the end of
August, and expenses at 64.76%. that compares to last August when
revenues were at 63.23% and expenses 67.15%.

Despite the positive news, the county is still facing a budget deficit of
approximately $1.34 million.

The county’s fund balance or savings account grew to an estimated
$3.4 million by August 31. It is expected to grow more before the end
of the year. The county started the fiscal year with a fund balance of
roughly $4.3 million.