Some city funds still with negative balance

By Frank Lewis

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Several funds remain in negative form according to a report given by Portsmouth Auditor Trent Williams at Monday night’s Portsmouth City Council meeting.

For the month of October, the income tax collections for the General Fund were down $305,000 compared to the same month last year, bringing the total for the year so far to being down $199,000.

“I look for, by year end, with two months left, to be at about $200,000, about where we are right now, total in comparison to 2014,” Williams said.

Williams said the Capital Improvement Fund is down $359,000 compared to the same month last year, down $275,000 for the year. He said the city had not projected the fund to go above last year, but said the numbers will be up next year reflecting the income tax increase passed by voters.

The general fund ended October at $187,000; streets was at negative $72,352; water at negative $245,757 and sewer at a negative $913,501.

The sanitation fund was at a positive $363,552 and the insurance fund stands at $1,182,023.

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

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