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City of Madison releases financial report

City Manager Tim Bennett presented a financial report to the commissioners for ten months (October-July) of the fiscal year 2014-2015, during the City Commission meeting on Tuesday, August 11. The City of Madison works on a fiscal year that begins Oct. 1 and ends Sept. 30. City Manager Tim Bennett stated that ideally General Fund revenues and expenditures and Enterprise Fund revenues and expenditures should be at 83 percent. The overall General Fund expenditures are at 94 percent of the $2,787,580 that the city budgeted for. Within that fund is the administration, which is at 91 percent of $481,675, which includes an unexpected roof repair; the Madison Fire/Rescue, is at 113 percent of $570,005; Madison Police Department is at 82 percent of $974,660; Public Works is at 107 percent of $419,985; and Community Development is at 90 percent of $175,055.

The overall General Fund revenues are at 92 percent of the $2,787,580 that the city budgeted for. The overall Enterprise Fund expenditures are at 73 percent of $4,094,025. Within the Enterprise Fund expenditures is the Natural Gas Department at 96 percent of $1,031,195; Sanitation Department at 78 percent of $345,130; Water Department at 76 percent of $762,115; Purchasing at 81 percent of $261,035; and Wastewater Department at 56 percent of $1,739,550. The overall Enterprise Fund revenues are at 85 percent of $4,094,025. Within the Enterprise Fund Revenues are the Water/Wastewater revenues at 86 percent of $2,501,665; Natural Gas revenues at 93 percent of $1,031,195; Sanitation revenues is at 76 percent of $345,130; and Inventory/Warehouse revenues at 55 percent of $216,035.

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