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City on track for Fiscal Year 2015-16

(Sheridan, Wyo.) — In a six month budget overview of the City of Sheridan's budget, City Treasurer Jim Harmon says the city is doing well at the mid-way point of the fiscal year 2015-16. "I am really happy with what I saw. I think it is good news. The city is going along as normal in this fiscal cycle and doing quite well," Harmon told the council at a meeting Monday. The city has already done water and sewer rate increases , Harmon said, and at the end of March, the city will discuss the sanitation fund in more depth. The city's general fund, "all in all, is doing well," Harmon said. "It is bringing in more money than it is spending — over half a million dollars. That is a comfortable margin right now." The one-cent fund is equally doing "quite well" in terms of what is coming in vs. what is being expended, Harmon said. In the city's special revenue fund, expenditure have exceeded revenue by $2.5 million. "Currently we are putting all the projects that have funding sources into the special revenue fund. Water and sewer, as well as capital, are in there.... It is a timing situation rather than not having sufficient revenue to cover it," Harmon explained. The capital facilities, golf, debt service and mosquito program funds are also healthy, he said. The city moved $1.5 million to the sanitation fund for this fiscal year to cover the cost to start the recycling program. "We knew that this first cycle with the recycling program was going to take some additional effort. We are running a little bit behind. The expenditures, like in the contractual area where we are using temporary employees to help us sort (recycling) we are above. On March 21 ... we will have a complete financial plan for the solid waste fund," Harmon said. Also Monday, the all annexations and liquor license issues were approved by the council. *Feature photo: Sheridan Water Treatment Plant / Pitchengine Communities* #dally #news