Things are looking up financially for the City of Surprise.
In March of 2012, an audit revealed the city had misplaced $73 million over a period of 10 years, causing the city to dip into their savings.
“Almost a year ago, the city’s auditors and accountants detected ‘missteps’ in the budget from the past decade. They were forced to dip into their rainy fund that was ‘knocked nearly to zero,'” said Surprise City Manager Chris Hillman.
But now the city’s money problems are improving. Hillman explained the city’s efforts to reduce the debt.
“The city council made an immediate policy direction that they wanted a fully [re]funded reserve, which is, by policy, $13 million…They wanted that filled and completed within 24 months, so the city has set out on a course this past year to accomplish that.”
Hillman said the Surprise City Council has made conscious efforts in replacing these funds by reducing expenses. They have cut 34 employee positions and placed some capital projects on hold. However, the city was able to do this without impacting services to residents or raising taxes and fees.
This week, the revenue the city anticipated for this fiscal year is above what was expected: from $500,000 to $1.7 million. They are hopeful for a budget surplus, which will help replace more of the money to be put in the reserve.
“We’re cautiously optimistic that things are progressing well, and even a little ahead of schedule at this point,” said Hillman.
- Arizona kids in crisis: How you can help
- 11 holiday classics for the ultimate movie marathon
- 2016 college football rivalry games you simply can't miss
- New treatment offers hope for migraine sufferers
- 11 stadiums to watch your favorite football team
- Shopping for a TV? Best models for 2016
- The new beer pairing guide for holiday foods
- Avoid this holiday plumbing disaster in your home
- 7 tips to avoid holiday weight gain
- New treatments mean better prostate cancer survival rates
- 5 of the scariest things found in drains
- 6 tips to create the best family movie night
- New bone marrow procedure holds promise for healing pain
- The best places to celebrate Fall in Phoenix
- Infamous athletes who did the most time for their crimes
- Diet, exercise and aspirin: 3 tools to fight colon cancer
- 2016 baseball highlights, bloopers and blunders
- See how CFOs really feel about business in the Valley
- The best television shows on the internet
- The 5 worst things you could do for your roof
- 6 coolest things brewing in Arizona
- The virus that keeps head and neck cancers on the rise
- State Fair ‘Kid Reporter’ has all the angles covered
- 4 important things to know about timeshare maintenance fees
- Signs of delayed car crash injuries
- The truth about sports concussions
- The Alzheimer's epidemic: Facts you need to know
- The season is here, keep your Fantasy Football team strong all season
- 8 TV shows you can't miss this fall
- Football is here: 6 tips to make this your best season ever