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Quarterly report shows City of Roswell in financial slump

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Councilors heard from City Manager Chad Cole about the city’s finances for the first quarter of the current fiscal year, July 1 through Sept. 30.

“We are in the hole about $7.7 million,” Cole told councilors on Nov. 9. “We are not bringing in enough revenue to cover expenditures.”

Currently, revenues are higher than expected but so are expenditures. He read a list of negative amounts that included the Water and Solid Waste departments as well as South Park Cemetery.

“Not the news anybody wants to hear,” he commented.

—Roswell Daily Record

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