Four city funds have negative balances


By Frank Lewis

[email protected]

Portsmouth City Auditor Trent Williams reported several city funds have a negative operating balance.

Williams told Portsmouth City Council Monday night that for the month of September the General Fund is at negative $38,000; Streets at negative $104,000; the Water fund at negative $311,000 and the Sewer fund at negative $945,000. He said the Sanitation fund had a positive balance of $357,000 and the Insurance fund had a positive balance of $1.546 million.

“Income tax collections for September for the General Fund is $723,463, which was plus $91,360 over the same month last year,” Williams said. “Cumulative for the General Fund was $6.610 million, which is plus $105,667 over last September for the total income tax for the month of September of $851,176, which was $106,813 more than last September and a cumulative collected in income tax this year $7,777,000, which is $121,000 over this time last year.

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

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