For anyone interested in more details of the Mayor’s financial projections, Brereton had his approximately 20-minute presentation taped, and it will be put on the city’s Web site at www.ci.belivdere.il.us.
The slide shows the wheels coming off completely in FY11 where the fund balance actually goes negative to -$100,000 at a time when the minimum balance should be about $3.5 million.
main reason for the fund balance decline: loss of revenue and, he said, "This trend is not unique to Belvidere."
using more than $1 million from the Utility Tax fund to help pay for Street Department personnel as well Police and Fire.
Click on the following for the complete story: The Belvidere Daily Republican. - Belvidere hears sobering financial projections
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