“We’ve got to have it.” Those were the words of McCaysville Mayor Thomas Seabolt before city council members voted to cash a certificate of deposit valued at $467,000.
That money will be moved into the city’s general fund checking account.
The decision was among financial changes made by city council members during their regular meeting June 9.
Council members passed a budget amendment resolution as the city nears the end of its fiscal year June 30.
That amendment included an anticipated revenue shortfall of $439,225.19 and $526,386.19 needed from the fund balance reserve to balance the budget.
Five changes, adding $91,155.90 in expenses to the budget, were made to total departmental budgets within the city to balance the budget.
These were:
•Administrative, decrease $31,280;
•Court, decrease $8,000;
•Police, increase $41,953;
•Street, increase $19,385; and,
•City park, increase $69,637.90.
The police department’s Special Purpose local Option Sales Tax (SPLOST) budget was also amended, but that change reflected a reallocation of monies and no change in the total to be spent.
The budget amendment vote came after Councilwoman Gilita Carter reviewed the city’s financial performance in May. During the month, revenue was $92,190.44 and expenses were $179,321.69, leaving a shortfall of $87,131.25.
Carter said one reason was the city recorded three payrolls during the month.
The city’s new budget year begins July 1, but under the city charter, the new budget does not have to be approved until December.
The amendment approved June 9 keeps departments operating at current levels through the end of June.