One Cent Recipients to Receive Reduction in 4th Quarter Distribution

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One Cent Recipients to Receive Reduction in 4th Quarter Distribution
One Cent Recipients to Receive Reduction in 4th Quarter Distribution

City of Sheridan Treasurer Jennifer Reed reported to the City Council Tuesday night that the one cent revenue is down 12 percent from the appropriated amount for fiscal year 2011, which ended June 30. Reed explains what that means for the outside agencies that receive one cent funding.

Reed also indicated that similar to the general fund, the one cent fund has continued to decline over the last three years.

Reed also noted that certain accounts could not afford the 12% cut to balance the fund, such as lease payments for fire trucks, police cars, ambulances and the ambulance subsidy for this last fiscal year.

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