Errors, miscalculation lead to $1.5M budget shortfall
Published: August 16,2012
GAUTIER — After learning this week that Gautier will face a significant shortfall over the next several months, city leaders say tax increases will not be part of the solution.
Interim city clerk Teresa Montgomery projected that the city can go into fiscal year 2013 with $493,200 in the general fund if money is transferred from other funds. But she said it would take at least $1.5 million to cover payroll until property tax revenues start coming in January.
Montgomery tells The Mississippi Press multiple errors and an ad valorem tax miscalculation threw off the budget.
Councilman Johnny Jones said regardless of where an error occurs, the buck stops with the councilmen.
Jones said funds from refinancing a high interest utility district bond can be used to cover some personnel costs.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- BILL CRAWFORD: Dan Jones not the angel he is portrayed to be
- DAVID DALLAS — Just how long can Dan stand?
- Cal-Maine income skyrockets as prices rise and costs shrink
- The Dan Jones-IHL saga: Is this the story that started it all?
- Lawmakers move on bonds despite complaints from colleges and universities
- Analysis: Closed meetings can feed false public impressions
- Business groups file briefs in support of Kemper coal plant rehearing
- Grain scandal takes its toll on Delta farmers
- DAVID DALLAS — From Dan and Dixie with love