posted by Joe Polk at 10:32 PM /
Mt. Lebanon commissioners debated this week whether the municipality should continue spending its savings in order to pay for operating expenses or whether prohibiting the practice could make it harder to balance the budget in tough times.
Commission president Dan Miller said the municipality has been leaning on its undesignated fund balance for the past three years in order to handle day-to-day costs of operation, instead of building it up or treating it solely as a "rainy-day fund." While Miller did not introduce legislation at the Tuesday night meeting that would prohibit that process, Commissioner Joe DeIuliis said taking the fund balance off the table at budget time could leave the commission having to contemplate service cuts or tax hikes.
Read the full article:
Commission president Dan Miller said the municipality has been leaning on its undesignated fund balance for the past three years in order to handle day-to-day costs of operation, instead of building it up or treating it solely as a "rainy-day fund." While Miller did not introduce legislation at the Tuesday night meeting that would prohibit that process, Commissioner Joe DeIuliis said taking the fund balance off the table at budget time could leave the commission having to contemplate service cuts or tax hikes.
Read the full article:
- www.pittsburghlive.com/x/pittsburghtrib/news/pittsburgh/s_736543.html (Pittsburgh Tribune-Review)
Labels: commission, Dan Miller, debt, fund balance, Joe DeIuliis
1 Comments:
The article doesn't mention how much inflow has gone into the undesignated fund over the past three years.
The annual report insert in this month's mtl magazine says that the net decrease in the u.d. fund was $487,434 last year (pg. 12)
So, can I assume that the $3.2 MM 2010 ending balance stated in the article, minus $2.49 MM for 2011 budgeted reductions, isn't going to take us to $.71 MM at year end? Does anyone know what the projected net loss (gain?, dare I dream :) is to the u.d. fund?
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