The Redevelopment Authority of the City of Butler anticipates ending 2016 still in debt but they are taking steps to begin to dig out of their financial hole.
The authority board approved the budget Thursday presented by former Executive Director Art Cordwell, which estimates about $44,000 more income than expenses for 2016.
However, the authority is trying to pay off nearly $113,000 in debt from past years. If this year goes as planned, the authority would end 2016 with about $68,000 in debt.
The authority accumulated that much debt mostly due to drastic decreases in state funding. Cordwell anticipates a balanced budget in 2017.
The post Redevelopment Authority Continues To Dig Out Of Debt appeared first on Inside Butler County – Butler, PA.
