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Show Surplus will reduce general fund deficit A jubilant Mayor David Holdaway (old the Pleasant Grove City Council (hat week that the preliminary audit report showed that the city had a surplus at the end of the past fiscal year of $161,000. If the preliminary report holds up, he said, the surplus will be applied to the general fund deficit and will reduce the deficit to about $70,000. The city council has budgeted money in the present fiscal year to apply to the deficit and this should about clear off this debt, the mayor noted. The apparent surplus was a result of conservative budgeting and increased in-creased revenues to the city. The deficit in 1979 was about $394,000. Much of the deficit was a result of unavoidable expenses with the Tri-City Golf Course and below estimate revenues. The city has been trying to repay the deficit since then as quickly as possible. About $42,000 had been paid toward the deficit prior to Mayor Holdaway taking office. He also noted that the $73,000 overrun on the construction of the Public Safety Building .which had , been on the books for some time had been paid off. In addition, the city has been able to put about $232,000 in the Capital Improvements Fund during the past few years. This fund will be used for new construction, such as the new City Hall addition to' the Public Safety Building, and the planned construction of a library. |
