The Commerce City Council received the year-end financial report last night in regular session. Director of Administrative Services Marc Clayton said that it was a good year for Commerce, where the city gained money from both lowering expenses and increased revenue. In total, the city saw nearly $200,000 more at the end of the fiscal year than budgeted.
In last year's budget, $127,000 was taken from city reserves to take on certain expenses. During the course of the year, that deficit was erased and $65,000 more was added to the city reserves.
Clayton said while some expenses such as fuel and utilities were over-budget, revenues from permit fees, sales tax, franchise fees, and the hotel/motel tax were also more than expected. Clayton also said, in reference to new city facilities being over-budget, that the timing of the additional monies was crucial and it was a good time for the extra revenue for Commerce.