City still mired in debt

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Audit shows sum $16M-plus

By Jeff Bryan

While the city’s latest financial audit shows officials trending in a positive direction in terms of cash flow and reserves, one figure remains hard to ignore. According to the Fiscal Year 2016 Audit, the city’s debt service remains at $16 million-plus.

The report, prepared by Powell & Jones, showed the city’s general fund debt as $3.2 million with its water/sewer enterprise operations debt at $12.85 million.

The staggering sum isn’t lost on officials, especially Councilman Larry Winkler.

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