Justice Predicts Over $500,000 Deficit for 2011

According to the minutes of the August 8, 2011 Village of Justice Board Meeting the following was reported on the state of the Village Finances.

"Trustee Bartoszek explained that our financial consultant, Kelly Zabinski, has completed the projections for the July through December period.  Ms. Zabinski forecasts that we will have an increasing deficit in the General and Sewer funds throughout the second half of the year with substantial cash flow difficulties in September and October.  The total cumulative deficit is projected to be $524,436.14 by the end of this fiscal year.  There are no reserves after the remainder of the working cash bonds is spent to cover the payroll in September and October.  The projections assume that the State will not become further behind in the payment of income tax and further assumes that the collection of property tax is paid in the same timeline as last year.  The projected deficit is a result of revenues being less than expected, and due to the State being behind in some of the payments to the village."