City conducts budget review

“The city’s current cash-on-hand position is the strongest it has been in six years,” announced City Manager Bill Parry at the city council meeting on May 8. The statement was made as part of Parry’s report on the City of Gatesville’s FY 2018 mid-year financial/ budget review which gave a snapshot of the city’s current fiscal situation.

The cash-on-hand (total amount of accessible cash) as of March 31 was approximately $1.5 million in the general fund which is a significant increase from the past fiscal years at approximately $1.25 million in 2017, $900,00 in 2016, $100,000 in 2015, $300,000 in 2014 and $175,000 in 2013. The enterprise fund cash-onhand indicated similar findings with just under $800,000 in 2018 and 2017 as opposed to the four previous years which were at $200,000 in 2014 and significantly less than $100,000 in the remaining three years.

 

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