City of Wichita financial report released

City of Wichita financial report released

Wichita City Council reviewed the city’s finances in the fourth quarter.

In the unprecedented year of 2020, the city’s general fund revenue budget was slashed by $ 13.1 million, but ended up performing well, with a profit of $ 4.4 million. These adjustments, along with additional sales tax revenue and the federal government’s CARES Act funding also helped.

The outlook for the future is not so optimistic. While the 2021 budget is expected to be balanced, the city is forecasting deficits from 2022 to 2024.

The Town’s Golf Fund performed well, with earnings of $ 523,000. This was attributed in part to much higher play in the third and fourth quarters of last year. It is not known if this trend will continue in 2021.

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