Mayor Kudrna Says Auburn’s Financial Picture Is Improvåçing
Auburn Mayor Scott Kudrna reports the City’s financial picture continues to improve. He said the Auburn’s operating costs have been reduced by $189,401 from January to July of 2011 when compared to the same period last year. Also, revenue is up $133,960 over this same time.
Kudrna says sales tax revenue is up $10,677 and property tax revenue has increased $26,010 from the same seven month period in 2010.
Other income is up $95,550, with this predominately being an increase in State equalization funds which are based on the property tax levy compared to the state average and the population of Auburn. Equalization is not State Aid ($27,164.75) which the Nebraska Unicameral eliminated and won’t pay in the future.
“When putting all of the numbers together, the City of Auburn is $338,975 better off than during the same seven month time frame last year. No capital items were budgeted last year and only operating expenses were allocated. In January of 2011 the City was anticipating being $206,581 short and unable to make bond payments due in November and December of this year. Currently, the City does expect to have the funds to make these payments,” Kudrna concluded.