The Greenville City Council held a special meeting last week to take the first look at a budget proposal for fiscal year 2016-17.
City Manager Dave Willey said the city currently stands about $200,000 out of balance on the general fund. He said the council believes they will find some of that amount, but are uncertain if they’ll find enough to make it a balanced budget. Willey noted the deficit is only in the general fund; the total budget has a positive balance of over $600,000.
Click below to hear his comments:
It was a consensus of the council to budget $150,000 in Downtown TIF money and develop a plan to turn the parking lot in the 200 block of South Second Street into a park. The Downtown TIF fund has about $600,000. The park plan will eventually be presented to the council for review.
Regarding the budget, the city manager said it is a council policy to maintain a balance of at least six months of expenditures in the general fund. A six-month balance would be about $1.5 million and there is currently approximately $1.7 million in it.