Athens completed November with nearly sufficient cash within the Normal Fund reserve to run the town for 3 months with none further revenue Finance Director Mandie Quigg advised the Metropolis Council on Monday.
The entire of $2,783,553.35 is sufficient to maintain the town going for 88.5 of the specified 90 days.
“In the future of working bills, with our adopted yr 2021 funds comes out to $31,460,” Quigg stated.
Metropolis officers have made a concerted effort to develop the fund in recent times. In January, there was sufficient within the fund to function for 75 days with no revenue.
In 2016, the town solely had about $1 million within the reserve. The fund went from 30 days reserve to 75 in about two years.
The Utility Fund capital reserve totaled sufficient to function for 95 days, primarily based on an estimated every day want of $15,872. The entire on the finish of fiscal 2020 was $1,500,816.99.
“I’d wish to say hats off to Mrs. Borstad and her workers,” Mayor Monte Montgomery stated. “Once we got here out of that AMWA (Athens Municipal Water Authority) lawsuit, that capital utility fund was all the way down to about $400,000 to $500,000. It takes budgeting to get that constructed again up and workers has achieved that.”
Quigg stated the town has $2,261,826.36 within the Capital Enchancment Fund and $518,460.45 for Cain Middle operations.
Additionally on the agenda on Monday, the council voted to permit Metropolis Supervisor Elizabeth Borstad to enter an settlement with Caldwell County Chevrolet to buy eight light-duty vans. The entire value of the automobiles is $208,347. The settlement features a $100,000 guarantee on the motor and energy prepare.
One other buy that gained approval was a Skid Steer Truck Loader from Clark County Tools Firm, at a value of $66,883.96.