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Lima City Council Finance Committee Meeting

 
Posted Tuesday, July 22nd 2014 @ 8pm  by Nick Cass

Lima, Ohio (WIMA) - The Lima City Council Finance Committee held a meeting on Tuesday night and went over the city’s mid year budget report.

For the first half of the year- the city is on budget and the revenue is as estimated- as revenues are at fourteen point one million dollars- fifty-one percent of the budget- and cash expenditures are at fourteen point three million dollars- forty-nine percent of the budget.

Finance Director- Steve Cleaves- explained while the budget is in good shape- it’s important to be responsible.

Cleaves also said that E-P-A mandated fixes for combined sewers will cost in excess of 1-hundred million dollars over the coming decades.

Maintaining a healthy general fund financial position is important to obtain the lowest possible interest rate costs for water and sewer projects.

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