City Reserves Down

LIBERTY, September 1, 2010 - It was reported that City Reserve funds had decreased from 2.4 million to 1.5 million dollars and that Sales Tax Revenues to the City from the State Comptrollers Office were down by $700,000 dollars.

i-dineoeut.com contacted City Manager Gary Broz to see where the other $200,000 dollars of decrease had come from.

According to Broz it is the result of eliminating transfers of funds from the Electric Department and the Water Department. Both of these departments had operated with a significant profit and the City has made money from providing these services for years.

Now however, according to Broz, people are, “Cutting back,” and it is not possible to transfer funds from these departments back into the City coffers.

People during this time of economic uncertainty are not watering lawns and reducing their use of electricity, thus the City is not selling as much water and electricity as previous.

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