Albany city leaders balance budget -, South Georgia News, Weather, Sports

Albany city leaders balance budget

By Len Kiese - bio | email

June 25, 2008

ALBANY, GA (WALB) - The City of Albany approved their $100.6-million dollar budget but commissioners had to dip into reserves to balance it.

The budget took some major hits. A group health insurance shortfall cost them $1.4 million and transit department fuel came at a hefty price of $101,000. The biggest blow actually helped property owners.

"We also had a major rollback of the property taxes so we didn't have to impact the citizens so we saved them by taking it out of fund balance and that was about a $1.6 million loss of revenue," said Director of Finance Kris Newton.

Those three things added up to more than $3-million. City leaders will take that money out of reserves to balance the upcoming fiscal year's budget.

This year, 13-city departments actually came in under budget and saved the city $1.8-million.


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