ASG over spent its Fiscal Year 2022 budget by $5 million, but over collected local revenues by $15 million resulting in a $10 million surplus. This is according to an unaudited report of budgeted versus actual collections for the 4th quarter.
The report is a requirement of the bond financing.
Local revenues were budgeted at $110.1 million in the FY2022 budget. Actual collections totaled $136.8 million, of which $115.8 million was spent.
The supplemental budget for FY2022 of $12.6 million increased the budgeted revenues to $136.8 million, but actual expenditures totaled $128.3 million.
The surplus covered overspending in some departments and enterprise funds.
The highest was the airport, which overspent its budget by $515,755; Sports Complex went over budget by $287,902; Office of Disaster Assistance and Petroleum Management over spent by $261,743; and Housing Fund went over by $145,926.
Other departments or accounts, which spent more than was budgeted, were Drivers Training—$28,035—and Print Shop—$8,143.
The agencies and accounts which collected more revenues than what was budgeted include:
- Road Maintenance which was budgeted at $550,000 but collected $669,546,
- Public Market whose revenues were budgeted at $160,000 but collected $228,122
- Industrial Park whose revenues were pegged at $60,000 but collected $711,634.
The Debt Service Fund was budgeted at $14 million but recorded revenues of $14.6 million. Expenditures totaled $11.6 million, resulting in a balance of $2.9 million.
The General Fund unbudgeted estimated surplus, not yet audited, totals $10,641,378.
