With the current fiscal year drawing to an end June 30, Caroline County officials are hopeful they will not have to dip into their back-up fund to end it in the black.
Caroline Finance Director Margaret Roe appeared before the county commissioners Tuesday to give an update on the $41.5 million fiscal year 2011 budget as it entered its final stretch, and the outlook she gave was promising.
According to Roe's spreadsheets, the county has received $40.3 million in revenue and spent about $41.4 million a difference of $1.1 million. Not all of the county's tax revenue has been received at this point though.
"Right now, expenses are over revenue. But it's really too early to say how we're going to finish," Roe said.
Roe said the county is still expecting more income tax to be doled out from the state, but is not confident the amount coming will meet budgetary estimates. She said while Caroline needs $2.9 million more to meet expectations, the county may only receive between $2 million to $2.5 million.
1 comment:
You will never see this in Wicomico County. They have no knowledge of what a balanced budget is. All they know is spend spend spend, tax tax tax.
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