published: Friday, April 12, 2013
Avon Park financial news remains positive
By CHRISTOPHER TUFFLEY
AVON PARK -- Monday night City Manager Julian Deleon presented the city's budget/finance report to the council and there is good news, he said.
"For this time of year the budget would be normally spent at 50 percent. As it stands we are approximately at 44 percent spent, so there appears to be a small budgetary savings."
The total budget for 2012-13 was slightly more than $13.3 million.
Deleon said office and software changes have made finance processes more efficient and less complicated.
"We use blanket purchase orders to facilitate payment of capital expenses or contractual sole source services. It's just not practical to process one bill at a time." This means the money is obligated in the budget and creditors receive payment much more quickly.
Deleon also explained the difference between cash reserves and contingency funds.
Reserve dollars are those left over after a fiscal year and may be rolled forward. Currently, Deleon said, the city has about $2.3 million in reserve.
Contingency dollars, on the other hand, are nonbudgeted funds set aside for an emergency. The city has $175,000 in contingency funds.
Money from one line item within a department's budget may be transferred to another item line in the same department.
If the amount being transferred is $20,000 or less, the city manager may exercise his own judgment. A budget adjustment over $20,000 must be approved by the city council.
Two workshops for the 2013-14 budget were scheduled for July 27 and Aug. 3. Both dates are Saturdays. The workshops begin at 8 a.m.
hmmmm (by: FALCO - 4/13/2013)
Oh, you said, it must ne right. Once again, the blindman leading the blind. Si.
Numbers Never Lie! (by: Blindman~ - 4/12/2013)
No matter what anybody says... numbers never lie. The finance report speaks for itself!
Small Banner Ads