Jonesboro cash reserves will be halved by 2020

JONESBORO, Ark. – The proposed 2017 budget for the City of Jonesboro was discussed Monday night in a specially called meeting.

Held in the council chambers at the Municipal Center, Mayor Harold Perrin called the meeting on Friday. One of the numbers discussed in great detail was how much money will be in the reserves for the city for the next several years.

2017 will begin with $27.5 million in cash reserves. By 2019, that is expected to drop to $18.3 million. By 2020, it will drop even further to $12.6 million – less than half the current number.

Perrin said to address this issue, other sources of revenue including enhancement fees will be considered. Expenses will also be watched closely, the mayor said.

Revenue was also reportedly expected to increase next year by 4 percent.

An ordinance for the 2017 budget will be up for vote at the Jonesboro City Council meeting on Dec. 20.

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