Greenwood Budget Deficit

The city of Greenwood is facing a $225 thousand  deficit for 2020. This comes after the first city council meeting on Tuesday.

The city had more health related issues than usual and they had to borrow funds from the general fund to help cover the costs.

The city also had to invest money into the Greenwood-Leflore Hospital. It needed a feasibility study done on it, which came with a lot of legal fees paid to lawyers.

Mayor McAdams said this is only the second deficit in her eleven years in office. This year they had unexpected costs that couldn't be budgeted for.

"We had to withdraw funds from our fund account, our general fund to help the health fund because we got a really low, we had lots of health issues in 2019. Which normally, since I've been in office for ten years, right on eleven now it has been really a healthy city," she said.

Mayor McAdams said while the city can afford the deficit because of surplus from prior years, as mayor she never likes to see it.

Looking ahead for 2020, she said the city is financially okay, they just have to tighten the belt on the budget to make up for the deficit.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.