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Saturday, September 14, 2013

Ocean City Coffers Boosted $827k By Unanticipated FY ‘13 Revenues

City Hall might be rethinking charging waterfront property owners an extra fee for possible canal dredging work, although the $827,000 savings the city will be carrying over from last year’s budget could go towards any number of projects.

The city budget for the 2012-2013 fiscal year, which ended June 30, originally anticipated a $3.8 million dip into the town’s standing unrestricted reserves. But in closing out the books for the recently finished cycle, town Budget Manager Jennie Knapp said that number would cut below $3 million, giving an $827,000 boost to the 2013-2014 fund.

“We were able to take less money out of fund balance than anticipated due to some unanticipated revenues,” Knapp said.



Anonymous said...

Mayor Rick,

That good news on finding $827k will be the perfect amount to use for having the large ships coming to OC next summer. Finally the taxpayers are off the hook on something!

Anonymous said...

Hooray! The employee appreciation day Is now on! A more humble alternative to funding the mega raises of Town management.