New Castle County Again Ends Fiscal Year With Surplus -- $1.3M For '11

Factors include budget cuts, revenue from sheriff's sales

For the second year, New Castle County closed out its books for the fiscal year that ended June 30 in the black.

Continued cost-cutting -- including a 2.5 percent pay cut for all employees -- and an unexpected spike in revenue from sheriff's sales on foreclosed property helped the county end fiscal 2011 with $1.3 million in cash on hand, said Ed Milowicki, the county's acting chief financial officer.

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