City’s finances ‘back on the road to recovery’

The City of Yukon’s finances are still recovering from financial problems discovered a little over a year ago, but are constantly improving.
The general fund reserve account is now up to more than $1.5 million. The pool cash fund, which is the account bills are paid out of, currently has about $2.4 million. Other accounts are also continuously increasing.
“We’re not where we want to be in our reserves. We hope to get those back to about $5 million, but it’ll take a few years to do it. We are moving forward and I don’t anticipate having any problems,” City Manager Jim Crosby said. “The city’s finances are quite similar to most of the cities in the state—they’re very tight. There are some pluses, but of course sales tax is down.”
Yukon’s sales tax is down 4.5 percent, but Crosby said city officials “think that’s good right now considering everything going on in the state.”
Internet sales are one of the main reasons sales tax is down. The state is now collecting sales tax from Amazon, but Crosby said the city won’t know if they get anything from that until May.
“We’re not alarmed over it at this point in time and we’re going to move forward with our new budget,” Crosby said.
City officials will soon begin looking at the budget for next year.
The budget will be cut down but there are no plans for any layoffs at this point, Crosby confirmed, but he doesn’t plan on the city hiring a lot of people either.
Crosby continues to be transparent about the city’s finances. He started giving budget updates each month to make sure the city is staying on track on Aug. 2. He has done one every month since, except for this month. City Council members didn’t get through everything they had planned during the last work session, and the next session is already filled. Crosby will give the next budget update during the May 2 work session. All interested residents can attend the work session at 6 p.m. in the conference room of the Centennial Building, 12 S. 5th St.
“We’re back on the road to recovery. To get us back to where we once were just doesn’t happen overnight. We don’t bring in that kind of money. We are going to move forward and serve the citizens with no reduction in service,” he said.

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