News Flash Home
The original item was published from 12/21/2017 10:07:00 AM to 12/21/2017 10:11:39 AM.

News Flash

Petersburg News

Posted on: November 10, 2017

[ARCHIVED] Petersburg City Mayor Announces a Strong Finish to Fiscal Year 2016 – 2017

Spotlight Thumb 4

Petersburg City Council held a special meeting on November 28, 2017 to report the City’s financial progress. Petersburg was given a clean audit and the 2017 Comprehensive Annual Financial Report (CAFR) was submitted on time, as required by the State.


For the first time in 10 years, the City ended the fiscal year with its revenues outweighing its expenditures. The report found that the General Fund Revenues were $73,069,843 and General Fund Expenditures were $65,861,125.


Petersburg has reduced the FY 2015 - 2016 deficit of 7.7 million dollars down to only $143,933.


“This is a very exciting time for the City of Petersburg. In just one fiscal year, we’ve nearly eliminated our 7.7 million dollar deficit,” said Mayor Samuel Parham.


The CAFR also showed that the Public Utilities Fund achieved an unrestricted positive net position of 1.3 million dollars. This is a major improvement from FY 2015 - 2016 that reported an unrestricted negative net position of 1.4 million dollars.


“Although this is just the beginning, this is an amazing start to a strong financial future for the City of Petersburg,” said City Manager, Aretha R. Ferrell-Benavides.



###

Read More
Facebook Twitter Email

Other News in Petersburg News

12 6 2023 CDBG Meeting Change 640

CDBG Advisory Board Meeting

Posted on: December 7, 2023
12 6 2023 city hall open 640

Petersburg City Hall Open

Posted on: December 6, 2023
November 2023 Newsletter 640 copy

Holiday/Winter Newsletter

Posted on: November 22, 2023
iStock_000010942320Medium Leaf Raking copy

Leaf Collection 2023

Posted on: September 18, 2023
Travelers inn 640 IMG_0571 copy

Travel Inn

Posted on: November 27, 2023
Skill Games 640

Skill Games Illegal in Petersburg

Posted on: November 21, 2023