The Cynthiana City Commission has passed a budget for the 2010-2011 fiscal year, but the commission admits it’s not exactly ideal.
“Our revenues are down and because of unusual one-time expenses we anticipate, we are budgeting to spend more money than we are expecting our revenues to be...” Commissioner Mark Mattmiller said shortly before Tuesday evening’s city commission meeting.
The budget projects the city to spend $5,610,460 in the upcoming fiscal year, with generated revenues of only $5,337,289.
Mattmiller said the city will use savings from previous years to cover the $273,171 shortfall.
For more on this story, see this week's Cynthiana Democrat.