Cheyenne Doing Well Financially, Mayor Says
Mayor Rick Kaysen says the city of Cheyenne took in several million more dollars in fiscal year 2013, while spending about three million dollars less than expected.
He says final revenue figures for fiscal year 2014–which ended June 30–came in at $59.3 million, compared with a forecast of $55.4 million. The mayor says money generated by sales and use taxes were a big factor, coming in $1.8 million ahead of projections.
He says that means local businesses are doing better than expected, which is good news for the local economy. Meanwhile Kaysen says the city spend an even $53 million, compared with projected expenditures of $56.8 million.
Kaysen says when the books are balanced it leaves the city with reserves of about $14 million going forward–or about enough to run the city for three months if all revenues were to be cut off.
That total includes previous reserves as well as the money added to the reserve account at the end of fiscal year 2014.