City's revenue, expenses within budget

City of Eunice expenses for the first third of the fiscal year were within budget despite an unappropriated $1.4 million payment to payoff the recreation park bond issue.
The budget for the year starting July 1 was adopted in June. Later in the summer, the City Council decided to call the outstanding bonds and retire them.
That required a $1.4 million cash outlay from accumulated sales tax revenue.
With that payment, the city’s expenses for the first four months of the fiscal year total $5.33 million. That’s 32.9 percent of the $16.2 million budget with a third of the year expired.
That budget also includes sales tax funds that will be banked for use in the next fiscal year’s bi-annual street maintenance program.
On the revenue side, the city had received $4.77 million through Oct. 31, about 31.4 percent of the budgeted $15.1 million for the year.
Spending, due to the bond issue retirement, exceeded revenue by about $565,000 for the first third of the year.
The revenue accounts -- General Fund, $2 million; Sales Tax, $1.79 million; Utility $909,000 -- were within two percent of the one-third budget amount for the year.
On the spending side, the General Fund and Utility Funds were significantly below one-third of expenses, while the Sales Tax fund was at 46 percent due to the bond issue redemption.