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Garden City Commission declares financial emergency
The Garden City Commission declared a financial emergency at its regular meeting Tuesday.
Melinda Hitz, Garden City finance director, said the cash balance of the electric fund is low, sitting around $100,000, when typically the balance is between $4 million and $5 million.
There is a reserve fund that has a little over $4 million, but the operating fund is concerning, Hitz said.
Mike Muirhead, Public Utilities director, said the fund is low for several reasons.
First, retail and commercial sales are down approximately $1.75 million from projected utility costs due to the COVID-19 pandemic.
Second, there were two planned events: an asset purchase agreement and a terminated contract. ....

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