City flush as fiscal year winds down

KINGMAN – The City Finance Department’s latest report shows Kingman has an $8.1 million surplus in its general fund through the end of April.

Finance Director Coral Loyd said there are still some projects the city has not paid for but she still expects the fund to have about $6.4 million by the end of the fiscal year. The 2005-06 fiscal year ends June 30.

“We are still on track with our previous expectations, but there are some large expenses remaining. For example, the ballpark lighting replacement at Centennial park should be completed between now and the end of the year,” she said.

According to the report, the city has spent $17.9 million through the end of April.

It has received $26.9 million in revenues. The largest single source of revenue is the city’s 2 percent sales tax, which generated $11,281,102.

The city has yet to collect about 16 percent of revenues for services. Loyd said that figure is around the same at this time every year.