MARCO ISLAND — In a press release this week, the City of Marco Island reported its fiscal 2012 financial results.
According to the release, for the year ending Sept. 30, revenues were $20,789,589 versus a budget of $21,016,165.
Operating expenses were $19,817,977 versus a budget of $21,016,165.
The city ended the year in “excellent” financial condition with $2,253,678 in unallocated reserves; $4,257,285 in emergency reserves.
The press release states, “In accordance with our City Charter provisions we are $2,368,730 below our authorized spending cap.”
City wide debt, including utility and STRP decreased from $216,885,485 to $203,893,634 at fiscal year end.