Published 12:00 am Tuesday, October 12, 2010

Crenshaw has little cash after fiscal year

By Billy Davis
The Town of Crenshaw, which has struggled financially for years, finished the 2010 fiscal year in the black, town leaders were told last week.

The fiscal year, for municipalities and county governments, began October 1 in Mississippi.

Town consultant Lygunnah Bean shared the end-of-year figures at the October 7 meeting of Mayor Oscar Barlow and the Board of Aldermen.

Sign up for our daily email newsletter

Get the latest news sent to your inbox

The figures show Crenshaw town government spent $505,146 over 12 months, overspending by $24,805 by September 30. But it also took in more than $25,000 that was not budgeted.  

Total receipts for property taxes, police fines, water bills and other payments brought in $518,608 during the year. Town government had forecast $492,910, meaning it took in $25,698 more than expected.

Bean’s totals show Crenshaw ended the year with a fund balance of $13,462.

He went on to explain that town government, according to its 12-month budget, had finished the year $892 above its budgeted funds.

“This is probably one of the closest budgets that we’ve had,” Bean said as Barlow and aldermen reviewed the figures.

Water bills and police fines, which account for the bulk of town revenue, brought in $17,400 and $6,340 less than was budgeted, according to Bean’s figures.  

Some revenues brought in more than expected. Crenshaw’s share of gasoline tax, sales tax, and liquor privilege tax brought in $47,103, $15,103 more than budgeted. Real estate taxes were $3,210 more than budgeted.