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2018 Carmel Ending Operating Balance for All Funds

Carmel Ends 2018 with More Than a $56 million Operating Balance for All Funds

Post Date:01/09/2019 8:00 AM

Carmel, Indiana: A Partnership for Tomorrow

City of Carmel
Carmel.in.gov
One Civic Square
Carmel, IN 46032


NEWS RELEASE

Date:                January 9, 2019
Contact:          Nancy Heck (317) 571-2494
Release:          Immediate


Carmel Ends 2018 with More Than a $56 million Operating Balance for All Funds

Carmel, IN – The City of Carmel ended 2018 with a $56.8 million operating balance for all funds. This is a $3.6 million increase in the all funds year-end operating balance over the previous year.

            “We work very hard to manage the city’s finances prudently. We approach the budget process much like the private sector in that we perform budget forecasting 10 years out to ensure that we can accomplish our goals and keep our tax rate among the lowest in the state,” said Mayor Jim Brainard.

             The general fund operating balance for the year end 2018 was $11.5 million. This was an increase of the year-end operating balance for the general fund from the previous year of more than $7 million. Much of the money returned to the budget was the result of under spending by City Departments. 


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