JAMESTOWN – An independent audit has confirmed what was first reported last Spring by the city of Jamestown comptroller – the city budget for 2018 closed out its books in 2018 with a modest surplus.
During this week’s Jamestown City Council work session, independent auditor and public accountant John Trussalo presented his review of the 2018 city budget, noting that the city had finished with a $555,000 surplus. That’s nearly $140,000 more than the surplus city comptroller Joe Bellitto had reported for the city in April of this year when he went over the final budget numbers with the city council.
Final spending for the year was $35,931,000 compared to $36,480,000 in final revenue.
It was the second year the city finished in the black.
The audit also confirmed the city was again at 100 percent of its constitutional taxing limit, but was only at 29 percent the maximum debt limit allowed under state law.
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