Finance Director Sheree Shore broke down the final 2012 unaudited statements and explained that the city is projected to increase its fund balance by $521,445.
She told the members of the committee that — while current year taxes are estimated in the statements and some fees have not been received yet — the preliminary results are optimistic.
The city’s fund balance is expected to rise to $12.2 million from $11.7 million. Shore said that’s an increase of approximately six months’ worth of expenses, and what they try to achieve every year.
According to the year-end statements, total operating revenues for the city were less than in 2011 but were still more than the budgeted amount by about $225,000.
Working in conjunction with the overall 2012 revenue to produce the unpredicted savings was the total operating expenses, which were less than budget predictions by about $414,000.
An area that didn’t meet or exceed 2012 predictions was the local option sales tax revenue.
The city had put $6.3 million as the projected revenue from the collection of the countywide tax in its 2012 final budget.
After July of last year, however, the revenue the city received from the tax decreased from where it had been during the first part of the year — with the amount dipping below $500,000 for four of the last five months of 2012.
For the year-end LOST numbers, Rome is projected to have taken in $6.28 million, which is slightly higher than the total in 2011 but still under budget.
In other action:
The committee approved the purchase of some new equipment for the city-owned Stonebridge Golf Club that will be used for care of the course.
City Clerk Joe Smith requested the capital purchases since they were not a part of the 2013 budget for the golf course. “This is equipment that we haven’t bought in a long time and we need to get,” Smith said.
The most expensive items are a rough mower and two greens mowers, while other equipment includes a greens roller and a bunker rake/groomer.
One of the greens mowers will replace the one that has been used for the last several years, while the other will provide additional convenience since it will make trimming the greens faster so more golfers can play the course.
The three mowers will be leased-purchased, while the rest of the equipment, which is much less expensive by comparison, will be purchased outright. In all, the total money needed for the equipment this year adds up to about $135,000.