Havelock budget outlook ‘not all bad'

Havelock’s finance director told the Board of Commissioners Tuesday that revenue for the city for the fiscal year would likely be about half a percentage point below budget.

“The news is not all bad this year, which is good,” Lee Tillman said at a planning retreat at the Havelock Tourist and Event Center.

Tillman said that of the $10,006,250 expected in revenue for fiscal year 2011-12, she estimated revenue to be $9,956,650, or about 99.5 percent.

The overwhelming majority of sources, including ad valorem taxes, sales taxes, Powell Bill receipts, intergovernmental revenues, privilege licenses, permit fees, rents and concessions and EMS revenues were at 100 percent or above.

Expenditures were $9,867,487, or 98.6 percent of planned budget.

Tillman said the city’s water fund is estimated to be about $60,000 short due to conservatism and short accounts. The budget for the water fund, an enterprise fund, is $2.18 million.

In the sewer fund, also an enterprise fund, revenue was expected to be down about 3 percent from the planned $3.3 million.

The Solid Waste fund, also an enterprise fund, was down 5 percent of its budget of $1.04 million.