The City of Butler could be in the red by a half million dollars at the end of the year unless drastic changes are made.
Director of Accounts and Finance Councilman Mike Walter made the statement Wednesday night after he said he spoke with the city’s auditor.
The city spends roughly $400,000 per month, which means they could run out of money by sometime in November.
One possible solution would be to take a tax anticipation loan earlier than normal. The auditor also suggested possibly selling the stadium which Walter is not in favor of and likely is not even an option with the debt still on it. Walter is in favor of exploring the idea of selling the city’s parking lots to a private company.
