Comments (0) 1:00 PM posted by admin |
One of the many highlights of tonight’s City Council meeting will be the annual financial audit for FYE 2007.
The most interesting point of interest is the City’s fund balance increased from $1.670M in FYE 2006 (page 15) to $3.078M in FYE 2007 (page 14). That’s a $1.407M increase in surplus in the undesignated portion of the General Fund.
That’s pretty phenomenal.
Council now needs to take half of that surplus ($1.5M) and put it in the land revolving fund for Water Street bond payments that begin in November of
I can almost see the Ann Arbor News headline in tomorrow’s paper: CASH-STRAPPED CITY HAS SURPLUS.
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