Alpena Road Commission Eyes 7 Million Dollar Budget
Wed, 22 Nov 2017 06:00:52 EST
Alpena County Road Commission officials have developed a second draft of their proposed 2018 budget.
Alpena Road Commission Managing Director Larry Orcutt explained that current figures for 2018 are about just under seven million in expenses ($6,977,943.00) and 6-point one million dollars ($6,112,454.00) in revenue, leaving an 8-hundred thousand dollar shortfall ($865,489.00).
This year, the approved budget called for 5-point 5 million ($5,534,559.00) in revenue, and 6-point 2 million ($6,257,905.00) in expenses for a shortfall of over 7-hundred thousand ($723,346.00). However that has been made up and there is a projected surplus of over 1-hundred 91 thousand ($191,838.00).
Orcutt explained it was the first year of the new transportation funding package approved by lawmakers a few years ago. Best estimates were originally used to develop this years budget, and he said in part "....revenues from gas, tax, and registration fees are higher than was anticipated."
That positive fund balance would carry over to 2018 and lower the projected negative. The remainder would come from a 3-point 6 million dollar ($3,669,468.00) fund balance.
But that may not be necessary, depending on the amount of new gas tax and other revenue from the state.
Staff will continue to crunch numbers, but Orcutt felt the proposed budget for 2018 is nearly complete.
Final budget adjustments for this year and adoption for next year takes place in the last week of December.