For the first time since the economic crisis the city announced today they have a little extra dough on hand, but not much.
City Finance Director Rob Dubow said the city will release their annual finance report this afternoon which will show a positive fund balance of roughly $100,000 for the end of fiscal year 2011 –falling short of their $3 million projection.
“It sounds small but it’s a big improvement when over the last two years we’ve had negative fund balances of over $100,000,000,” Dubow said. “It’s the result of all of the actions we’ve taken over the last couple of years to bring ourselves back into balance. A lot of budget cuts that have been painful for both us and the citizens.”
Dubow said at the end of fiscal year 2009 the city had a negative fund balance of $137 million and in 2010, negative $114 million.