Terre Haute officials say their general fund cash balance has improved significantly despite the city borrowing millions of dollars to meet daily expenses and avoid massive layoffs.
City Controller Leslie Ellis says the cash balance on June 30 was more than $378,000. Earlier, she had projected it would be about $41,000.
Mayor Duke Bennett tells the Tribune-Star (http://bit.ly/1aFnaDM ) the city's finances are trending in the right direction. He notes the city's general fund balance was nearly $442,000 on June 30 two years ago and was more than $40,000 in the black a year ago.
However, Bennett says the balance is still low for an annual general fund budget of $33 million.
The city has borrowed millions of dollars to meet daily expenses and avoid layoffs.
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