Toccoa Commission Watching Cash Flow

January 24, 2013

Toccoa City Commissioners say they want to talk about cash flow and the Commission Reserve Account at an upcoming work session scheduled for next month.

During their meeting Tuesday, commissioners ratified a decision to borrow another $520,000 from the CRA to cover an invoice due to the Municipal Gas Authority of Georgia this month.

That comes on the heels of a similarly needed transfer of $460,000 last month, of which $200,000 has been re-paid to the CRA.

As a result, the CRA is still owed $780,000.

In response to questions about the budget and cash flow, Toccoa City Manager Mike Jackson said the city is watching expenditures throughout the whole budget.

“All across the board, not just in gas, but citywide, we have put the clamp on spending,” said Jackson. “There has been very little spent in the way of additional personnel, pick-up trucks, you name it. We have not felt like we were able to do that so we have not.”

In the financial report that covers the period through December 31, the city reported that it had received nearly $12.3 million in revenues and spent about $12.1 million in expenditures, for a net income of just under $168,000. However, the gas fund had only received just over $3.7 million in revenues compared to nearly $4.3 million in expenditures, a difference of more than $500,000.

Jackson said he has been particularly watching expenditures in the gas fund and says he does not see any frivolous spending.

City staff members said they are looking at the gas fund situation, including examining rates.

The Toccoa City Commission’s next work session is set for February 4.

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