RUTLAND, Vt. (AP) — The treasurer for the city of Rutland, Vt., says the city is in good financial shape.
For the second year in a row, the city has received a favorable audit.
The Rutland Herald reports (http://bit.ly/16vJ9aL) Treasurer Wendy Wilton points to several highlights. She said the city’s assets exceed its liabilities by more than $34 million. There’s been a decrease in long-term debt, particularly in money owed to the pension fund.
The city also had healthy year-end balances in its general fund and cash on hand.
Wilson said, however, she was worried about the effect the region’s economic health was having on the city, noting that a decline in tax revenue will make it hard to maintain local infrastructure.
The audit was referred to the Finance Committee for further discussion.
Information from: Rutland Herald, http://www.rutlandherald.com/