WASHINGTON: Expenses were higher than revenues in the city’s general fund in the second quarter of fiscal year 2016-2017, Crystal Hadfield, finance director for the City of Willcox, said. She presented the city’s unaudited financial statements to city council at its March 2 meeting. Using a fiscal year that begins July 1 and ends June 30 each year, the city is currently about halfway through its budget. During her presentation, Hadfield explained that the city “always operates a month behind,” citing the example that “sales tax revenues received are for the prior month.”
“Once the year comes to an end, all revenues received in July are allocated back to June to true up the year,” Hadfield said, calling it “typical” for the city’s general fund to be down until we true up at the end of the year.” The city’s operations are managed through a number of separate funds, including the general fund, Highway Users Revenue Fund (streets), grants, debt service, repair and demolition; enterprise funds, including gas, water, sewer, refuse (solid waste); magistrate court, and firemen’s fund’s pension funds.
