New budget reflects real finances

By ANDREA POTEET
Sunday Times Newspapers

ALLEN PARK – The city’s budget now reflects its current economic situation following the adoption of an amended budget Tuesday.

The current budget, adopted July 1, presented a $800,000 surplus instead of the $4.7 million deficit reported recently by Plante & Moran. It also failed to include a $2 million subsidy from the general fund to the city-owned former studio property and it included $1.8 million in revenue from a Headlee Override that voters rejected at the polls during the primary election in August.

It also shows the city’s expenditures, totaling $24.2 million and its revenues, coming in at $19.5 million.

Tags: