Alma latest financial records show nearly $400,000 loss due to 2020 expenses

Ty Thompson
Press Argus-Courier

Alma's financial records have shown that its year-to-date expenditures are operating at a significant loss. The explanation for this goes back to the beginning of the year. 

Alma's records show that there is a loss of $396,316 for this year as of June with $1,354,593 in total revenues and $1,750,909 in total expenditures.

The latest revenue and expense report for the city of Alma shows a loss of $396,316 for this year as of June.

In January of this year, it was found that there was $126,000 that was supposed to go to the street department in 2020. To fix this the city moved it to 2021, but it was a 2020 expense.

Adding on to the large year-to-date expenses, the city council decided in March that $114,000 from 2020 should be moved from the general fund into the parks department budget. Since it was taken out of the general fund, it shows as an expense. 

"These were 2020 expenses that should have happened in 2020, but they actually happened in 2021," Shawnna Reynolds, Alma city clerk said. 

At the end of this year, the city council will do an amended budget that will take care of these larger expenses on paper.