Town’s financing improvingPublished 12:03am Wednesday, January 9, 2013
With its books in the black for the first time in years, River Falls’ financial picture is a much better sight today than it was just a few short months ago, council members announced Tuesday.
Mayor Patricia Gunter said the town currently has nearly $50,000 in the bank – more than enough to make the town’s upcoming $29,000 annual loan payment for its water system.
At the administration’s first meeting, it was announced that the town had less than $10,000 in operating funds on hand and that its bills were months past due.
“I’m proud to see that we’ve come a long way,” said councilwoman Mattie Freeney.
Gunter said the funds were garnered through sales tax, gas tax and property tax collections.
“Plus that money’s not going out somewhere,” Freeney said.
Councilman Richard Bowden said, “We’ve got it thanks to accountability.”
To help with the town’s bottom line, the council also voted to begin collecting a 5-cent per pack cigarette tax that was passed by a previous administration, but not enforced.