10 Jun Dipping our toe in the crazy pool.
Let’s get right to the bad news.
[cleeng_content id=”396630450″ description=”Why stop now? It’s just getting interesting!” price=”0.99″ referral=”0.10″]Our conservative FY12 Ending forecast indicates a $2.5M General Fund cash deficit.
MAOS continues to advise drastic downward budget amendments, deep cuts in Parks and BSO, and nailing :JA: right in his girl pearls.
We arrived at this conclusion by comparing pooled-cash, examining the City’s latest financial statement, and trying to make sense (we couldn’t) of the unchanging month-to-month cash balances.
While that task melted our collective mind, we determined:
- The cash-deficit problem endures, as most of the General Fund money will cover other Governmental funds shortages.
- What little money remains belongs to restricted purpose and/or Special Assessment funds.
For those keeping score at home:
May 31, 2012
Collected to date: $12.1M
Still to collect: $3.7M
Spent to date $9.6M
Still to spend: $6.2M
* Our previous FY12 cash flow analysis indicated GF cash collected at $14.8M – a budget decrease of $1M.
As you can see, the City will fall short by $2.5M.
Some team members projected FY11 deficits launching 33319 into a low Earth orbit.
In years past, the cash-poor solution was raiding the Special Assessment Piggy Bank, but in 2012, it will be too little, too late.