Lima's Cash Balance Swells to 9 Million Dollars - Lima, OH News Weather Sports

Lima's Cash Balance Swells to 9 Million Dollars

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Lima City Council heard some financial news Monday that should put smiles on the faces of the legislators.

Lima Finance Director Steve Cleaves says after seeing a 700-thousand dollar increase in the city's cash balance in April, the city now has a 9.1 million dollar cash balance on hand.

Cleaves says in the first 4 months of the year they have seen an increase of one percent in income tax revenue and expenditures have dropped by 2.5 percent, primarily in the area of labor.

Cleaves stresses that 9 million figure will drop by 4 million over the next few years because of badly needed capital purchases.


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