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Tag Archives: reserve

Biloxi mayor vetoes proposed budget; city council to take up issue

BILOXI — Mayor A.J. Holloway says he vetoed the fiscal year 2014-15 budget adopted by the Biloxi City Council because it provides a spending reserve of only $56,000. Holloway said yesterday that such a low amount would put the city’s credit rating at risk. Biloxi Council President Kenny Glavan said the council will take the issue up at their next ...

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City faces shortfall as tax collections continue to decline

COLUMBUS — Sales tax collections continue to lag behind last year’s revenue, raising questions about whether the city will have to amend its budget or dip into reserves to make up the difference. The Commercial Dispatch reports January revenue was reported at about $626,000, a drop of more than $24,000 from the same period in 2012. Year-to-date sales tax collections ...

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Officials concerned over depleted casino fund reserves

GREENVILLE — The city of Greenville has about $12,000 remaining from the $1.6 million in casino revenue budgeted this fiscal year. The Delta Democrat Times reports that in previous years the city used other tax revenue or borrowed money for day-to-day operations and various repairs. For the fiscal year that began Oct. 1, 2012, the city decided to use $1.6 ...

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