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Crestwood's first-quarter revenues 'slightly above' where they should be

Sime presents first-quarter financial report to aldermen

Kari Williams
Staff Reporter
May 07, 2014 - Crestwood's revenues for the first quarter of 2014 are "slightly above" where they should be, according to City Administrator Mark Sime.

Sime presented the first-quarter financial report at a recent Board of Aldermen meeting. The report shows that general fund revenues reached $2.1 million, an increase from 2013.

General fund expenditures came in at $1.6 million, and compared to 2013, "expenditures decreased, but remain below straight-line spending for the year," according to the report.

The overall general fund balance increased with a year-to-date total of $538,795.

Revenues in the capital improvement fund came in at $377,451, which represents a decrease from the same period in 2013 "due to the grant revenue received last year for the fire truck," according to the report.

Expenditures came in at $101,318. In total, the capital improvement fund increased by $426,133. However, Sime noted in his report that the city should expect expenditures related to the Spellman Avenue construction project.

In the park and stormwater fund, first-quarter revenues are at $421,615, an increase of roughly $49,000 from 2013. Expenditures, which Sime noted in his report, are "normally low at this time of year," with the amount of $185,367.

The park and stormwater fund increased by roughly $14,000, "despite the transfer out to repay the general fund and the capital improvement fund," according to the report.

Citywide, first-quarter revenues reached $2.9 million with expenditures of $1.9 million.

"The revenues are on par with the 2013 revenues year-to-date," Sime noted in his report. "The fund balance in all three funds increased by $979,175 for the year-to-date."

Tags: Crestwood News, Web Exclusive

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