City Finances Healthier Than Projected
Highland Park finishes the year with more than $13 million in the bank.
Highland Park finished its fiscal year with a positive fund balance 13 percent better than projected, according to the city’s Comprehensive Annual Financial Report released Monday at the City Council’s Committee of the Whole meeting.
The city had projected a positive fund balance of $11,423,899 for 2010. The final audited amount was $13,153,861, according to Finance Director Elizabeth Holleb. This gives Highland Park a reserve of 45.6 percent of its annual projected expenditures for the current fiscal year.
The entire report from Highland Park’s auditors will be available on the city’s website soon.
Check back Wednesday for more details as well as a report on the entire City Council meeting and other suggestions from the Committee of the Whole.