Georgetown city staff reviews long-term funds to avoid deficit
A chart presented by City Manager David Morgan May 13 demonstrates impacts on the city’s General Fund and reserves if city staff doesn’t adjust practices and take multi-year budget forecasts seriously. (Courtesy of City of Georgetown)
Based on a multi-year forecast for Georgetown’s General Fund, Georgetown City Manager David Morgan said city expenses will exceed revenues over the next three fiscal years without “due diligence.”
The General Fund is the city’s primary operating fund. Revenues come from sales taxes, fees, property taxes and returns on investment from utility funds. Expenditures include operating budgets and t…
