Ludlow shares budget update through April

Alpena County’s general fund budget deficit held steady through April.

Treasurer Kim Ludlow provided the finance committee Wednesday, with an update on the general fund budget through the first four months of the fiscal year.

The county started 2020 with an estimated budget shortfall of a little less than $1.26 million, which grew to about $1.47 million earlier this year. Ludlow said the deficit remained the same at the end of April.

County revenues were slightly higher from one year ago and expenses were slightly lower. “So against our budget we’re doing pretty good,” said Ludlow.

The county started the year with a projected general fund balance or surplus of approximately $4.2 million. At the end of April the balance was a little more than $2.4 million. The fund balance will begin to grow again once property taxes start rolling in later this year.