City of Madison releases financial report

City Manager Tim Bennett presented a financial report to the commissioners for the first six months (October-March) of the fiscal year 2014-2015, during the City Commission meeting on Tuesday, April 14. The City of Madison works on a fiscal year that begins Oct. 1 and ends Sept. 30. City Manager Tim Bennett stated that, ideally, General Fund revenues and expenditures and Enterprise Fund revenues and expenditures should be at 50 percent. The overall General Fund expenditures are at 57 percent of the $2,787,580 that the city budgeted for. Within that fund is the administration, which is at 55 percent of $481,675; the Madison Fire Rescue, is at 71 percent of $570,005; Madison Police Department is at 47 percent of $974,660; Public Works is at 63 percent of $419,985; and Community Development is at 49 percent of $175,055. The overall General Fund revenues are at 55 percent of the $2,787,580 that the city budgeted for. The overall Enterprise Fund expenditures are at 39 percent of $4,094,025. Within the Enterprise Fund expenditures is the Natural Gas Department at 57 percent of $1,031,195; Sanitation Department at 45 percent of $345,130; Water Department at 46 percent of $762,115; Purchasing at 44 percent of $261,035; and Wastewater Department at 24 percent of $1,739,550. The overall Enterprise Fund revenues are at 52 percent of $4,094,025. Within the Enterprise Fund Revenues are the Water/Sewer revenues at 49 percent of $2,501,665; Natural Gas revenues at 65 percent of $1,031,195; Sanitation revenues is at 45 percent of $345,130; and Inventory/Warehouse revenues at 31 percent of $216,035.