Black Hills Knowledge Netowork

August 22, 2012

Lead Creates Budget Reserve

The Lead City Commission has decided to creat a budget reserve fund to prepare for future rainy days.

The city of Lead.

(Image from Wikipedia via the U.S. Forest Service)

After revenue exceeded projections by $50,000 for sales taxes and $30,000 for property taxes this year gave the city of Lead the breathing room it needed to create an official reserve fund, the Black Hills Pioneer reports.

Anticipation of less largess during a major road rconstruction project coming in 2014 prompted the move, although one city commissioner suggested that officials also look for ways to cut taxes.

Learn more about Lead city government at the city's website, although the most recent budget posted is from fiscal year 2010.


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