Cary budget beats the odds
January 8, 2014 by Sarah
Amidst public concern over the deficit, and spending at various government levels, it has been revealed that the town of Cary is bucking the national trend.
An independent audit shows that North Carolina town has beat its budget expectations for the second year in a row. The report for fiscal year 2013, which ended in June, was presented to the Cary Town Council in December. Cary residents working to keep their own financial boat afloat can take heart in the sound financial position of their town.
Last fiscal year the town came out $17 million ahead; the year before that the excess was $15 million. This extra money provides the funds for special projects that elected officials consider important as well as allowing the town to be proactive and save money by making improvements. The official word came from Cherry Bekaert, an accounting firm, that went over Cary’s books and evaluated both the city’s financial condition as well as its record-keeping process.
The good fiscal report was due to collecting an extra $4 million in revenues while cutting expenses by $13 million. Just as many Cary residents have done more with less, so has the city. Auditor Eddie Burke reported that the city received a clean audit, was total transparent in its record keeping and that the accounting firm had no recommendations for improvement. Amazingly the city was able to do all of this with the lowest employee-to-population ration in a decade.