Three-quarters of the way through the Fiscal Year, the city of Toccoa receives positive financial news.
“I feel a lot better about where we stand now than I did a couple of months ago,” said Toccoa Finance Director Cathy Loudermilk, who presented the monthly report for the Fiscal Year through the end of March at Monday’s city commission meeting.
Nine months into the year, the target is for revenues and expenditures to be at 75 percent of the budgeted amount, according to Loudermilk.
As of March 31, the report indicates that Toccoa’s revenues are at 72.6 percent, while expenditures are at only 67.8 percent of the total amount budgeted.
For the current fiscal year, the city of Toccoa has a net income of nearly $1.4 million, showing just over $21 million in total revenues and $19.6 million in total expenditures. The total budgeted number for revenues and expenditures for the entire fiscal year ending June 30 is just under $29 million.