Lauretti expects healthy city budget surplus for fiscal year 2013-14
Mayor Mark Lauretti said the city expects to have ended the 2013-14 fiscal year with a healthy budget surplus. “We know what’s coming down, and it’s all good,” he said.
Helping the bottom line will be up to $700,000 from an insurance settlement and restitution in the Sharon Scanlon theft case, and personal property audits conducted on some businesses.
Fiscal years end on June 30, but the formal audits aren’t released until December. The city ended the previous fiscal year with a $7.5 million surplus.