PHILADELPHIA, Miss. (AP) - A new audit shows that fiscal year 2013 was the sixth consecutive year of expenditures outpacing revenues in Philadelphia.
Expenditures outpaced revenues by $613,896 in 2013. The city’s general fund showed $7.12 million in revenue and $7.73 million in expenditures.
Mayor James A. Young tells The Neshoba Democrat (https://bit.ly/1i23htE ) that he is pleased that the fiscal 2013 shortfall wasn’t more, noting that the board had anticipated a shortfall when it set the budget initially.
The initial 2013 budget projected a shortfall of $97,403, though the mayor predicted during the budgeting process that it would climb higher.
“The way the budget was structured, I’m very pleased that it (the shortfall) wasn’t more,” Young said. “The department heads did a good job of staying within the budget that was set. We stayed in line as much as possible. Everybody did a good job of holding the line.”
Auditors found over about the last 12 years, expenditures have outpaced revenues by $7.8 million as officials have drawn on a huge reserve fund. During that time, primary revenue sources have increased or at least remained fairly steady.
The general fund provides money for such departments as general government, public safety and cemetery, among others.
The general fund revenue included $821,487 from the sale of a city-owned warehouse in the industrial park to The Taylor Group and some equipment sales.
“If the sale of that building hadn’t have happened,” Alderman Josh Gamblin said, “we would have missed revenue budgets by a million dollars.”
A. T. Williams, a certified public accountant, said in the audit report that even though the city amended its budget, there were several instances of expenditures exceeding their budgeted amounts.
He recommended that the board take “greater care” in reviewing city operations and in amending the budget.
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Information from: Neshoba Democrat, https://www.neshobademocrat.com
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