Farmington Money Woes

Farmington Money Woes
By: Ryan Tate
Farmington Mayor Charles Rorex says his town has the lowest balance of money it has had in his past six years in office.
Rorex says some of that has to do with budget issues caused by former Director of Finance Greg Stover, who recently resigned. Rorex called Stover's mistakes "a comedy of budgeting errors." Those errors include over-budgeting in revenue and under-budgeting in expenditures. Stover also sighted a bond issue that cost the city more than $100,000. Mayor Rorex will not put the town's budget issues solely on the shoulders of Stover, though, but says Stover contributed to them.
"I started looking at this budget thoroughly and I noticed error after error," Rorex said.
The mistakes and other issues combined to force city leaders to raise more revenue. They plan on doing this by raising the electric rates 29%, retroactive to September 20th. Rorex says the rates would have gone up anyway, but now it was necessary to raise more revenue in town. Last year's rate increase was slightly higher than 2%.
Rorex also says some city employees will not be getting an "anniversary raise" this year. That raise is about 2-3% every year on the date the employee started. Mayor Rorex says he is unhappy about the move, but it is necessary right now.
An audit is currently being done by an independent company, and the Mayor says the city money issues will be discussed at the next City Council meeting.