Financial Picture Looking Up For Cheyenne

Jeff Schuman reports,

Revenue is up while expenditures are down as Cheyenne prepares for the 2012 budget.

This time last year things were looking rather bleak with regards to the budget. But things continued to turn around for the capitol city in March.

"Our revenues as they have been for the last several months continue to be on the positive side," Mayor Rick Kaysen said. "We're $924,000 ahead of forecast."

The principal driver for the upswing is sales and use tax, which is $1.2 million ahead of forecast. And while revenues continue to increase, expenditures fell below forecast yet again.

"We are $1.4 million below on expenditures with actuals of $33.7 million compared to a forecast of $35.1 million.

With this, the city is in a much better position financially this year as they prepare for the 2012 budget, which discussions for began in February.

"We are running numbers on the forecasted revenues as well as merging them with those expenditures to get to the proposed budget."

The mayor says the 2012 budget will be finalized and presented to city council members in May with full intentions to meet the state deadline of July 1.