More Money Going Out In Denham Springs Than Coming In
DENHAN SPRINGS, La. (AP) — The city of Denham Springs finds expenditures for this fiscal year, which ends June 30, are $1.6 million higher than revenue. That's according to the city's amended budget.
The administration proposes spending about 3 percent less in the coming fiscal year, which begins July 1, than in this fiscal year, but is still projecting net revenue to be more than $1 million less than expenditures.
Mayor Jimmy Durbin tells The Advocate (http://bit.ly/KXwEZn ) the shortfall is because of yearly depreciation of infrastructure such as water towers, pipes and wells.
Durbin said he hopes increased utility fees, some of which will go into place next year, and a growing utility customer base will help make up depreciation costs in coming years.
He said the city will have to raise sewer fees.