An audit for 2013 finds the accounting practices for the city’s utility are sound, but operating at a loss that could lead to debt struggles down the road if changes aren’t made.
On budget with the city’s new museum, library, and cultural center, the City Council addressed the utility’s loans before discussing how to spend an NSEDC donation and how to eventually deal with legal marijuana sales.
At the heart of Monday’s meeting with the Nome Joint Utility and City Council was a question: can NJUS use part of the $2.2 million credit line from the city to pay for fuel?
After weeks of budget work sessions, the Nome Joint Utility has finally approved its financial plan for the new year.
Focused on city and utility employee contracts, the Nome City Council’s proposal to collect property tax on aircraft died on the table after failing to get sufficient votes.
The city’s top priority is continuing with ongoing water and sewer upgrades, but even modest projects are uncertain in the face of a potential $3 billion deficit due to falling oil prices.
Public outcry saw the council allow two contentious tax proposals die without consideration, but an idea to assess property tax on aircraft moved closer to a final vote.
The City Council and the Nome Joint Utility grappled with the details of a $2.2 million line of credit at a special session Friday, Nov. 14.
Removing the sales tax exemptions from local churches and nonprofits could bring in up to $300,000 a year, city finance officials say.
An emergency work session of the Nome Joint Utility Board was called to order last week, to discuss the utility’s finances. It would appear NJUS has a cash flow problem.