Local/Regional News
9:39 am
Wed November 28, 2012

Lexington Ends Fiscal Year "In The Black"

LEXINGTON, Ky. – An audit from the city’s financial department revealed Tuesday that Lexington closed the books on fiscal year 2012 with a 3.3 million dollar surplus.

The Herald Leader reports that Director of Revenue Bill O’Mara told members of the Urban County Council the city overcame a projected $27M deficit with higher than expected revenues (taking in $9M more than counted on through city payroll taxes, and a net-profit tax on business), as well as tight control over expenses.

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