Surplus In Cities Budget |
Friday, February 13, 2009 10:05:06 AM - Middletown Ohio |
By: Randy Lewis
The city of Middletown is projecting a carryover of more than $7.6 million, up from the $7.2 million projected from the 2008 budget. The cities revenue was boosted this past year by high revenues in inheritance tax which was close to $1 million.
The city administrators helped by keeping their spending at about 97 percent of what was allowed. The city already has a balanced budget for 2009 and is expecting to carry $7.7 million into 2010.
Finance Director Russ Carolus says that we should have a surplus over the next few years.
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