7/20/16 – 5:30 A.M.
An update on Fostoria’s budget situation was given Tuesday night. The Review-Times reports Auditor Steve Garner told those at the meeting that the city expects $5.9 million in general fund revenue in 2017. The city’s expenses are estimated to be around $6.9 million, meaning Fostoria is still facing a budget deficit. The city was placed under fiscal emergency by the state earlier this year.
73 percent, or a little more than $5 million, of the city’s expenses, go toward safety services.
Garner also gave a financial report for June during the meeting. The general fund balance stands at negative $82,507. Tax receipts are up around $300,000 compared to this time last year.
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