Albany Assistant City Manager Wes Smith: "The figure is even more significant since the fiscal 2009-2010 budget had actually planned to use over $3,000,000 from the General Fund last year, but did not have to."
ALBANY, GA -- Albany Assistant City Manager Wes Smith notified FOX 31 News this afternoon that the city has a $1,800,000 surplus for the fiscal 2009-1010 budget. Smith says the money will be moved into the city's general fund for future use. Smith sent the following press release to the media.
City of Albany Finances, Fiscal 2009-2010
December 29, 2010
The City of Albany Finance Department has received notification from its auditors that the final General Fund operating budget figures for the fiscal 2009-2010 are in and are very encouraging. The city’s budget year runs from July 1, of each year to June 30, of the following year.
Revenues for the year came in very close to projections, while operating expenditures were much lower than expected. The net result is that the city of Albany operated on a budget surplus of over $1,800,000. These funds will be accounted for back into the city’s General Fund for future use. The figure is even more significant since the fiscal 2009-2010 budget had actually planned to use over $3,000,000 from the General Fund last year, but did not have to.
The auditors are now in the process of preparing the final written report. It is expected that they will make a public presentation of the documents and all of their findings to the City Commission some time in the first quarter of 2011. Public notice will be provided before that meeting.
W. E. Smith, Jr., Assistant City Manager
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