BRISTOL, VA (WJHL) – Rather than a nearly $2 million shortfall, Bristol, Va., leaders learned Thursday morning they have a projected budget surplus.
“I have some good news to present to you today,” the city’s Commissioner of Revenue Terry Frye said.
Frye announced that a bombshell announcement at Tuesday’s meeting of a real estate tax revenue shortfall around $1.7 million was wrong.
“We went back and re-ran the calculations that we had made earlier in the day,” he said. “We’re about $208,000 over the income that we projected in the budget.”
Frye blamed the miscalculation on an error plugging in numbers using a new computer system.
Despite the good news, city leaders were critical of the process.
“You could have come in here and said ‘you know these things happen I’m not prepared to give you something that’s close to X maybe,’ but instead we got numbers that were shocking,” council member Doug Fleenor said.
“Coming in and rushing through some numbers, I mean all of that should have been done weeks ago,” said Mayor Bill Hartley.
“That number on Tuesday should have never been displayed publicly, that was the big mistake, it should have been finished, it should have been final,” said council member Kevin Mumpower.
But Frye said considering the situation, he thinks he responded in the best way possible.
“I quickly got back to the city manager in less than 24 hours, alerted her what the problem was and what the change would result in, and now we’re less than 48 hours away and we’ve got it fixed,” said Frye.
City council is expecting a verified revenue number on Monday.
Copyright 2017 WJHL. All rights reserved.