City revenues down but almost debt free

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By Mark Scohier, Staff writer

Revenue for the City of Chiefland is down from this time last year, according to the city's independent financial auditor Robert Beauchamp.

But expenses are down, too, Beauchamp said Monday night, summarizing some of the audit he recently completed for 2013.

The city's general fund, at about $374,000 in September, was down about $69,000.

"Three-hundred seventy-four thousand dollars is a low number," he said, the lowest in the Tri-County area.

Unassigned funds for net worth were down about $111,000 since last year, Beauchamp said. This figure is a "barometer" in determining an institution's financial strength, he said.

"You spend more than you bring in, your net worth goes down. That's what we're looking at with that $111,000."

Still, certain areas, such as the city's sewer, water and garbage funds, tend to be strong with an increase of about $144,000.

And spending, overall, has gone down, and the city is close to being debt free.

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