A series of special sessions will be slated for the coming weeks to discuss the City of Greenville’s budget for fiscal year 2022-2023.
The Greenville City Council held a special budget session Wednesday ahead of Tuesday’s regular meeting to get an overview of the looming budget from external financial consultant Steve Osso.
Fund shortfalls, impact of the city’s current debt load —particularly as it pertains to the general obligation fund — sewer revolving fund (SRF) loans, and the Colorado Street capital improvement project were the main topics of discussion.
A preliminary overview of the city's general fund, which is subject to change throughout the course of planning for the upcoming budget, indicates the city's expenses exceed its revenue by roughly $3,244,000 so far — a fairly standard reflection for this time of year — and is anticipated to reflect a positive balance of $4 to $5 million this year.
One of the main takeaways was how inflation and gas prices have caused construction and transport costs to skyrocket.
Departments that have especially felt the brunt of those rising costs are fleet and water and sewer.
“Because of the expenses in the water and sewer fund with the water wells and lift stations, Wastewater Treatment Plant and everything that happened with the sewer maintenance stuff, right now the water and sewer fund is short $2 million dollars so we’re going to have to look at what we need to do from an expense standpoint,” Osso explained, noting sanitation and solid waste is “totally upside down” on the expense side.
With regard to the Colorado Street Extended project, Mayor Errick Simmons said the city is still budgeting for the $2.5 million the council voted to allocate for the project, despite Delta Health System CEO Scott Christensen’s impending resignation at the end of this month.
In going over the city’s general obligation fund, Osso said summarily the city is obligated to a debt of $86 million which will be covered this upcoming fiscal year.
The following fiscal year, however, is what the city council will have to watch closely in large parts due to the SRF loans for major sewer improvement projects throughout the city.
Once official dates have been set, the council will meet periodically to discuss the city’s financial obligations in greater depth leading up to the budget hearing for FY 2022-2023.
