SULPHUR — The city’s finance director said Sulphur ended its 2012 fiscal year with a surplus of nearly $400,000 surplus.
Kevin Alley presented the city’s audit report to the City Council this past week. The audit covers the fiscal year ending June 30, 2012.
Total revenue amounted to $17.2 million with expenditures of $16.9 million, leaving a surplus of nearly $400,000, he said.
Alley said sales tax revenue totaled just over $13 million for the year — an increase of $569,000 increase from the previous year.
Sales tax revenue makes up more than 50 percent of the city’s total revenue.
“We have been working on a need-and-want basis; if we don’t need, then it’s not happening,” Mayor Chris Duncan said of the city’s expenditures.
Alley said, however, that the utility fund is operating at a loss of $2.7 million, with operating revenue at $5.1 million and expenditures at $7.8 million.