Lima, Ohio (WIMA) - The Lima City Council Finance Committee held a meeting on Tuesday night and went over the city’s mid year budget report.
For the first half of the year- the city is on budget and the revenue is as estimated- as revenues are at fourteen point one million dollars- fifty-one percent of the budget- and cash expenditures are at fourteen point three million dollars- forty-nine percent of the budget.
Finance Director- Steve Cleaves- explained while the budget is in good shape- it’s important to be responsible.
Cleaves also said that E-P-A mandated fixes for combined sewers will cost in excess of 1-hundred million dollars over the coming decades.
Maintaining a healthy general fund financial position is important to obtain the lowest possible interest rate costs for water and sewer projects.