The Municipal Advisory Committee - Fred Reddig: Right now, the City's available cash is just under $1 million

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At the August 8th Municipal Financial Recovery Advisory Committee, DCED's Fred Reddig gave an update on the current operational status and cash flow of the City of Harrisburg. Reddig announces that the City has less than $1 million dollars in available cash and expects the City's cash flow will turn negative by September.

Harrisburg is looking at a $12.6 million end of year deficit, assuming all bills are paid, including a general obligation bond payment due mid-September. Reddig also discusses 12 positions the State has approved filling in order to provide "necessary and vital services" to the City. Despite the short-handedness of the City Bureau of Police, none of the positions approved include police officers.---Tara Leo Auchey

Photo/Natalie Cake

 
Tags: CREDC, Dave Black, Municipal Financial Recovery Advisory Committee, Receiver William Lynch