Oro Valley ends fiscal year with $1.7 million surplus

2013-09-09T15:00:00Z 2013-09-09T17:02:42Z Oro Valley ends fiscal year with $1.7 million surplus Arizona Daily Star

Oro Valley has ended fiscal year 2013 with a $1.7 million surplus, according to preliminary figures. The money is in the town's general fund, which contains $13.1 million.

The surplus is due to higher-than-expected revenues — mostly from increased construction sales tax income — and lower-than-expected expenditures. Some of the lower expenditures were due to transitioning the library to county control. The surplus came despite the unbudgeted Town Council authorization of funds to finish the Oro Valley Aquatic Center.

“These figures are a direct result of a rebounding local economy, coupled with the Town’s continued efforts to engage in partnerships to streamline operations, trim costs and increase service levels to the community,” explained Oro Valley Finance Director Stacey Lemos.

The town will use the surplus to invest in capital projects in fiscal year 2014.

Copyright 2014 Arizona Daily Star. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

About this blog

The Star's Northwest team, Tiffany Kjos and Phil Villarreal, write this blog, which focuses on all of northern Pima County, including Marana, Picture Rocks, Avra Valley, Oro Valley and Catalina; and SaddleBrooke in Pinal County. They welcome contributions via email at northwest@tucson.com

Featured businesses

View more...

Deals, offers & events

View more...