Fiscal 2012 financial results released for 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.

© 2012 marconews.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Comments » 2

marcofriend writes:

If only we could believe the fuzzy accounting by our city..............
One has to ask if they've ever heard of general ledger, since they can't keep track of any particular category.

26yearsonmarco writes:

It should be called Fecal Results instead of Fiscal Results.

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