Kaysen:Cheyenne City Finances $2.4 Million Ahead
Cheyenne Mayor Rick Kaysen says a combination of stronger than expected revenues and much lower than expected spending have the city's financial picture for Fiscal Year 2014 looking strong.
Kaysen says city expenditures for fiscal year 2014 are at $25.8, compared with projections of $27.8 million, or $2 million below projections. Revenues, meanwhile, total $31.2 million through the end of December, compared to a forecast amount of $30.8 million, or $400,000 ahead of forecast. He says sales and use tax revenues are the big factor in the increase in revenues, running $800,000 ahead of forecast.
The mayor says that is good news not only for city coffers, but for the local economy in general. That's because the taxes are collected on financial transactions, and the higher number means more business is being conducted in the city than expected.