City covers expenses without taking out loan
NATCHEZ — For the first time in nearly a decade, the City of Natchez completed a fiscal year without taking out a tax-anticipation loan to cover expenses.
City Clerk Donnie Holloway tells The Natchez Democrat that the city had enough funds to cover end of the month payroll, but not by a lot.
Holloway said the city’s general fund balance on Oct. 1 was just over $118,000.
A July board of aldermen vote gave the city the authority to borrow $650,000 this year, but the loan was ultimately avoided.
Sales tax revenues have been on the rise each month since February. Before that time, the city saw steady declines in sales tax collections.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- White House hotel making comeback in Biloxi
- Supreme Court deals blow to McDaniel's election challenge
- Baseball stadium for Farish Street? It’s possible
- Guns OK inside Mississippi polling places, attorney general says
- McCarthy hired as CFO of Mississippi Development Authority
- State GOP chairman calls on McDaniel to hurry with challenge
- 'Get on Up' movie premiers in Madison with Chadwick Boseman and Tate Taylor walking the red carpet
- Bryant protests immigrant children being housed in state
- Gunn, Reeves introduce performance-based budget plan
- Three indicted, alleged to have embezzled from agency