To close a projected deficit for fiscal 2014, which ended June 30, the municipality will deplete a $10 million capital-projects reserve, Jeffrey Blume, Ferguson’s finance director, said in a telephone interview. For the current year, the city is budgeting for higher receipts from police-issued tickets.
Revenue from violations, which already represents the city’s second-largest source of cash after sales taxes, will rise to 15.7 percent of receipts in fiscal 2015, from a projected 11.8 percent this year, he said. In 2013, fines brought in $2.2 million, or 11.8 percent of the city’s $18.62 million in annual revenue, according to budget documents.
This will be helpful.