Financial picture improving for City of Alva
August 23, 2020
Councilmember Dr. Bo Hannaford, who chairs the finance committee of the city council, reported the cash balance is improving with a total of $163,194.69 at the end of July. The city has $1.6 million in investments. Hannaford said the finance committee discussed certificates of deposit that will be renewing soon.
Sales tax collections, the major revenue source for the city, were up almost nine percent from June and up almost 8.5 percent from July of 2019.
Hannaford commended the city department heads and staff for their diligence at staying within their budgets.
Among the larger claims ap...