BRISTOL, VA (WJHL) – Rather than a nearly $2 million shortfall, Bristol, Va., leaders learned Thursday morning that they have a budget surplus as they consider this coming year’s spending.
Council members in a meeting at 8 a.m. were told by city Commissioner of Revenue Terry Frye that a real estate tax revenue shortfall of around $1.7 million that was presented Tuesday evening was wrong.
After rerunning the numbers, Frye said there is actually a budget surplus of around $208,000.
He said a manual error in programming using a new computer system was to blame for the mistake.
If you are reading this on a mobile device, click here to find a stream of this morning’s city council meeting.