The City of Brownwood wrapped up their 2010-2011 fiscal year at the end of September with an unexpected budget surplus.
The city’s Finance Director Walter Middleton reported to the city council on Tuesday that Brownwood finished the year with a $541,769 budget surplus despite projections for a $133,000 budget deficit. Middleton stated that Brownwood ended the previous fiscal year with a $576,000 surplus.
Middleton reported that many city departments showed an increase in expenses of 102% on the year, but experienced an even higher revenue increase of 104% which helped create the surplus.
The new Camp Bowie Family Aquatic Center completed its full year after opening late in the 2010 season. After expenses, the new pool showed a total surplus of $77,000. This is up 189% over last year (while open only a partial season) and 516% from last year’s operation of the old Camp Bowie Pool. This revenue was $23,000 the prior year as compared to $120,000 for the just completed fiscal year.
“The Aquatic Center has made a dramatic increase in our gross revenue at almost $100,000,” said Middleton.
Municipal court revenue of traffic fines was down by about $100,000 or 68% from the last fiscal year, which Mayor Stephen Haynes pointed out that the increase in the Aquatic Center revenue offset the decline in traffic fine revenue.
“They almost offset each other, so you can see that people are swimming more and speeding less,” joked Mayor Haynes.
Middleton also reported that it was as good year for the airport as well with a 170% increase in fuel sales revenue and a 150% increase in expenses showing a net gain.
Some departmental expenses were over budget, such as maintenance in the street department, which was $18,660 over budget projections due to an aging fleet of equipment. This will continue to cause expenses in future years until the equipment is replaced, explained Middleton.
Middleton stated that overall he was pleased with the financial situation given the economic state we faced during the past budget year.
“We were over budget on the expense side; however the surplus was good and we finished the year well,” said Middleton. “I think it is a pretty positive report.”
