The Knox City Council received a financial update from Clerk-Treasurer Jeff Houston this week.
On Tuesday night, Houston informed the council that the City of Knox is in pretty good financial shape since they had more money at the end of 2017 than they started with at the beginning of the year.
Later, Houston explained that at the start of 2017, the city had around $3,994,645 and it ended the year with $4,146,321. That’s a net gain of $151,676 or a 3.8 percent increase.
He said while part of the reason for the increase may be more TIF funds and Community Crossing Grant funding, the major reason is simply that less money was spent.
Additionally, Houston alerted members that he’s currently in the process of putting together the official the financial report that must be submitted to the state by March 1st. He said he has already completed and submitted the debt report and the post-employment benefits report.
