Budget Forum: City Remains In Good Financial Standing
"We're doing a good job of being financially stable, financially conscientious," says Gaithersburg Director of Finance and Administration Harold Belton.
The Gaithersburg mayor and City Council were briefed Monday evening on the city's financial state during the annual budget forum, and city officials said Gaithersburg remains in good financial standing.
The city saved approximately $8 million in FY2012, and that money will go directly towards funding projects in FY2013 and FY2014, said Director of Finance and Administration Harold Belton said.
"We're doing a good job of being financially stable, financially conscientious," Belton said.
City Manager Tony Tomasello said he expects state and federal funding to shrink in the near future, but the city is prepared to handle the loss of those funds.
"We're not as dependent on intergovernmental relations as we once were ... we're focusing on the county, and some degree the state, as supplemental partners moving forward," Tomasello said.
Most of Gaithersburg's issues for the FY2014 budget are internal, Tomasello said. Gaithersburg has restricted personnel hiring for the last four to five years, which Tomasello said contributed to some of the city's services being in danger of lagging in the near future.
The city manager said he hopes to open new positions in FY2014 to boost the performance levels of Gaithersburg's Community Services, Development Review, Recreation Programs, Facility Maintenance, Information Technology and Administration divisions.
Tomasello and Belton's full budget forum presentation can be viewed on the city of Gaithersburg website.