Errors, miscalculation lead to $1.5M budget shortfall

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.

[RSS Feed] [del.icio.us]



To sign up for Mississippi Business Daily Updates, click here.

POST A COMMENT

 

FOLLOW THE MBJ ON TWITTER

Twang & Tourism: The Country Music Trail

Our annual "Come See Us" magazine offers ideas for spots in Mississippi ranging from golf to culture to history to food. Click the photo for ideas, stories and access to the digital edition of this year's magazine.

Top Posts & Pages

%d bloggers like this: