'In the Black' Report at Lexington City Hall
With the Lexington’s books “in the black,” city leaders are celebrating. During a meeting today Mayor Jim Gray took the unusual step of offering formal comments. The mayor says the city collected nine-million dollars more than their original predictions. “In the financial world, in the private sector, a business would say, well we’ve turned it around. We’ve made a profit ” said Gray.
Gray calls it a modest surplus. He says major financial problems, such as a growing pension debt require diligent attention. Finance Commissioner Jane Driskell added city revenues were up and their expenses down.
“There were little things, there were large issues like utilities and little things like banking fees that we saved,” said Driskell.
Outgoing Commissioner Driskell says a warmer than expected winter resulted in substantial utility savings. Unemployment in Lexington also dropped to just over six-percent.