The City of New Iberia doesn’t expect to have budget deficit for the upcoming fiscal year. 12-million dollars will be the anticipated fund balance, 2-million of that is non-dedicated.
Last year the council approved 1.9 million dollars in budget cuts. Mayor Pro Tem Dan Doyle says he is happy budget cuts are not expected for this year.
Mayor Hilda Curry says the budget looks good, but their biggest problem is not enough sales tax dollars.
“We’re trying to do everything we can to increase our revenues, but unfortunately our sales tax revenues just have not increased and that’s one of our major issues right now is that we don’t have enough revenue coming in.”
Mayor Curry says if approved, a little over one million dollars from an unused construction fund will be transferred into the sales tax fund where it originated.
Tuesday’s meeting was one of three budget meetings that will be held before final approval in late October.