The Garden City Commission declared a financial emergency at its regular meeting Tuesday. Melinda Hitz, Garden City finance director, said the cash balance of the electric fund is low, sitting around $100,000, when typically the balance is between $4 million and $5 million. There is a reserve fund that has a little over $4 million, but the operating fund is concerning, Hitz said. Mike Muirhead, Public Utilities director, said the fund is low for several reasons. First, retail and commercial sales are down approximately $1.75 million from projected utility costs due to the COVID-19 pandemic. …Declaring a financial emergency is the right step to take in this situation, Muirhead said, as if the city becomes eligible for some relief from the federal government or elsewhere, everything is in place.
Source: Garden City Telegram.
