Bond funds cause spike
By SHANNON CRABTREE scrabtree@leader-news.com

The arrival of $1.65 million in bond funds made the revenues in the city of El Campo's first quarter budget report look far better than expected.

The report, presented to City Council recently by Finance Director Courtney Sladek, shows more than $5 million revenue accumulated during the first quarter of the fiscal year.

Bond dollars caused the revenue spike, she told Council. Those dollars are dedicated to several municipal buildings including a renovation at the Civic Center and expansion of the police department.

Minus the bond dollars, the city of El Campo showed $3.4 million in first quarter revenue with the vast majority of that coming from taxes and fees.

The $3 million in first quarter expenditures is right on line with budget planning.

All city revenue sources with the exception of interest earnings were reporting income at or above expectations for one quarter.

With the drop in interest rates and the uncertain economy, Sladek said, interest earnings were significantly below last year's gain.

So far, $98,611 has been gained from investments - almost 13 percent below first quarter earnings last year.

The city cut interest income expectations from $382,001 last year to $255,500 this fiscal year.

On the expenditure side of the budget, all departments were at or near expectations with a few reporting savings in comparison to the first quarter of last year.

EMS expenses at $215,392, are down more than 19 percent from the first quarter of last year.

Slight savings were also reported at the Civic Center, Aquatic Center and public works administration.