Utica Comptroller Releases July 2014 Cash Report
The Utica City Comptroller says it is important the people understand how their money is collected and spent.
William Morehouse is releasing the City of Utica’s Cash Report for the month of July.
The report shows that cash balances for the City of Utica’s bank accounts total about $24.7 million.
Thus far, revenues are below year-to-date projections. Expenditures are as well. Actual expenditures so far amount to approximately $18.7 million; revenues generated total about $23.6 million.
On WIBX First News with Keeler in the Morning on Monday, Morehouse characterized the situation as good, saying that the City of Utica is now in a position to borrow from itself, and not outside sources. He said that will ultimately positively impact the City’s bond rating.
The report will be formally presented to the Utica Common Council tonight.
The report appears below: