Commerce appears to have completed the 2013-14 fiscal year with all of its funds well in the black. The year ended June 30.
Finance director James Wascher presented the year’s final fiscal report at Monday night’s city council meeting.
The General Fund, he said, finished $368,243 in the black, though he noted that “timing” of expenditures for some projects, like the $200,000 software upgrade, pushed spending from the past fiscal year into the new year.
Water and Sewer Fund revenues were $248,541 to the good, the Electric Fund was $314,919 in the black, and the Gas Fund finished $499,799 in the black.
“When you get into utilities, it’s all about consumption,” Wascher told the city council. “The Electric Fund really performed well in the summer months, but we also had an extraordinarily cold winter that boosted consumption. The Gas Fund was really boosted by winter as well.”
For the full story, see the July 23 issue of The Commerce News.