With two months left in the fiscal year, Alexander City finance director Sandy Stanbrough said the city is still on target with the 2019 budget.
Stanbrough told the Alexander City City Council at Tuesday’s meeting she does not foresee anything coming up to derail the budget.
“We have managed the expenses we laid out in the budget,” Stanbrough said. “In July revenue was about $1 million below expenditures in the general fund. We knew it was going to be this way. Remember, we had several capital projects.”
Those capital projects include a $30,000 expenditure for engineering services at the North Central Avenue inert landfill expansion, a new vehicle for the public works department and lighting at the Thomas C. Russell Field Airport.
July revenues from the enterprise operations in utilities and the golf course brought in enough revenue to overcome the deficit in the general fund leaving the city $101,000 in the black for the month.
Stanbrough said the town receives much of its funding in the beginning of the fiscal year from property taxes and business licenses and balances revenue from sales taxes with spending from savings for capital projects.
“Every month the general fund is typically higher on expenditures than revenues,” Stanbrough said.