PETAL, Miss. (AP) - Petal officials were forced to spend
$500,000 in borrowed funds to operate city services through
January.
Aldermen voted to borrow $500,000 in July 2009 amid concerns
from the city's accountant, Doug King. The city was in recovery
from a $1.8 million budget shortfall and the layoffs of 19 city
employees.
Mayor Hal Marx said officials hoped the money would not have to
be used, but the funds were needed to make payroll and other
operating expenses. The Hattiesburg American reports aldermen
received a budget update from King Wednesday night.
Petal has had some positive financial news since summer 2009,
receiving roughly $50,000 additional sales tax revenue since July 1
compared to 2008, according to the Mississippi State Tax
Commission.
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Petal to get update on budget
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WJTV
Published: January 21, 2010
Published: January 21, 2010
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