City Starts New Year with Rising Revenues and Spending | News

“It was planned and budgeted for, and we knew it was coming,” Mayor Woody Jacobs said during a review of the city’s first quarter financial numbers this week. “We spent more than we earned. But everything should balance out during the last quarters of the year. We’ve had a lot going on and we’re growing on many separate fronts at once.

The municipal fiscal year begins on October 1 each year, and Cullman’s first quarter figures reflect revenues and expenses made from October 1 through December 31, 2021.

Presented to City Council by Council Chair Jenny Folsom as part of her General Government Report this week, first quarter revenue for the 2022 financial year reflected an increase of around $600,000 – or 5.7 per cent – compared to revenues for the same period a year ago.

But the city’s spending also increased over the same period, hitting $12.7 million for the first three months of the new fiscal year, compared to spending of $10.6 million in the same three-month period. last year. The $2 million increase represents a 19.7% increase in spending — although, as Folsom observed, all spending is accounted for in the annual budget the city passed in October of last year. .

“All of this is for budgeted projects,” she said. “We spent a lot of money on [road construction at] West Main, an industrial access road for the RWC [Reliance Worldwide] facility, Wild Water water park, Nesmith Park, capital improvement pledges to local schools which all went out of budget this term.

“But,” she added, “it all counts towards our overall annual budget. It all happened in the first quarter. And our local economy continues to perform well. Cullman County unemployment figures for the month of December [2021] was 1.8%, which tied for the lowest county-level unemployment rate in the entire state.

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