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Dryden expected to have operating surplus in 2023

By Tim Davidson May 29, 2024 | 8:58 AM

Some good news and bad news in the latest financial report from the City of Dryden.

Based on 2023 financial figures, the city posted a surplus of about $660,000.

On the downside, city treasurer Steven Lansdell-Roll says there reserve funds are not doing as well.

“For 2023 the target would equate to $7.57 million,” Landsdell-Roll told city council at their open meeting this week.

“At the end of 2023, we have $1.71 in Discretionary Reserve Funds, so we are $5.86 million from our target,”

He goes on to say reserves went down $500,000 last year, and their reserve funds decreased by $1 million.

Lansdell-Roll points out there is some positive news though as the city is expected to have a surplus for its operations in 2023.

“Our revenues were quite a bit higher compared to budget.  Approximately 5.45 percent higher than we anticipated.  Overall, our expenditures were higher than budget as well, approximately 3.32 percent.”

That means the city is expected to post a net operating surplus of about $660,000.

Lansdell-Roll says these are only preliminary figures, because they haven’t been audited yet.