Sewer Fund causes fiscal watch


By Frank Lewis - [email protected]



Allen


Portsmouth City Manager Derek K. Allen says the deficit condition of the city’s Sewer Fund is the reason the city remains in fiscal watch status from the Auditor of State’s Office. Allen made the statement during his review of the 2017 budget.

“We do remain under fiscal watch, a declaration by the office of the State Auditor, and this is because of the deficit condition in the Sewer Fund,” Allen said.

The Sewer Fund continues to be a black spot on an otherwise basically positive fund report. For October 2016 the Sewer Fund deficit sits at $1,458,788. At the same time last year the deficit was $913,502, meaning the October balance is $545,286 deeper in the hole over last year.

“All the major funds in this budget are balanced with the exception of 265 Flood Defense, where we will be deficit spending approximately $83,000,” Allen said. “I’m not talking about the (Municipal) court or the (City) health department. We’ve got a deficit spending of $83,000, and that’s because of an expense of $85,000 repair of a pipe under the flood defense levee that was identified when we did the certification process.”

The only other fund with a deficit balance is the Water Fund which shows a negative balance of $159,935. That’s $85,932 lower than last year’s deficit of $245,767.

The General Fund shows a balance of $1,400,202 which is up $1,213,018 over last year’s balance of $187,184. Through October, the Street Fund is at $292,166, compared to last year’s balance of negative $72,352, up $364,518. The Sanitation Fund is at $465,736, which is up $102,184 over last year’s balance of $363,552. The balance in the Insurance Fund is at $1,894,428, which is $776,405 over last year’s balance of $1,118,023.

The total General Fund income tax collections for October were $1,174,975, up $518,519 for the same month last year, for an accumulated total compared to last year of $2,204,468

The total income tax collections for October, including both General and Capital funds, was $1,340,641, up $568,292 over last year, for an accumulated total compared to last year of $2,289,052.

The city is also tracking new tax revenue collected from the half-a-percent income tax increase. For the month of October that total was $236,939.

Allen
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By Frank Lewis

[email protected]

Reach Frank Lewis at 740-353-3101, ext. 1928, or on Twitter @franklewis.

Reach Frank Lewis at 740-353-3101, ext. 1928, or on Twitter @franklewis.

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