From the Muncie Star-Press:
More than halfway through his first year in office, Mayor Dennis Tyler says he’s being cautious with spending and — despite a number of projects that have been announced — the city’s current operating balance seems to confirm that the Democrat’s administration is watching its dollars closely.
The city’s operating balance stands at just over $6 million — more than twice the cash on hand for Delaware County government.
The city had $6,274,411 in cash deposited this week, city controller Audrey Jones said. County government had a general fund cash balance of $2,960,655, deputy auditor Donna Patterson said.
The county has been struggling for more than a year with its finances due to declining revenue from property taxes and investments as well as increasing expenses like employee health insurance.
The decline in property tax revenue affects both the city and county, as well as other local entities, and Tyler emphasized this week he is watching spending.
“We’re being very cautious,” Tyler said.
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The city’s general fund budget this year is $22.5 million, with a 2013 budget proposal of $24.1. The county’s 2012 budget is $27.7 million, with a 2013 budget proposal of $31.8 million.
http://www.thestarpress.com/apps/pbcs.dll/article?AID=2012308170006
