City of CPN Solid Financials
This information has been provided by the City of Castle Pines North
The City of Castle Pines North is on strong financial footing. The latest fiscal update includes:
January and February revenues exceeded expenditures by more than 10% each month (more than $60,000 per month)
As of February 28, 2010, the City was at a favorable 110% of budget for revenues (10% over budget) and held expenses to 86% of budget (14% under budget) due to tight cost controls.
Sales and use tax revenues year to date are at around 107% of budget (7% over budget) Total fund balance (equity) as of 2/28/10 is $1.8 million. Total cash as of 2/28/10 is $2.2 million
The figures represent a consistent year-on-year trend with revenues growing in 2009 in line with a recovery on spending and expenses that continue to be managed in a conservative manner.
The City Council is currently undertaking a negotiation of major service contracts with the objective of improving service levels while remaining fiscally conservative in their approach. Full financial statements are available on the City’s web site, www.cpngov.com.
