The city of Erie’s midyear budget report includes a small surplus and the first numbers from the city’s new LERTA.
Mayor Joe Schember presented his 2019 midyear address to city council Wednesday night.
According to that report, the city is behind on revenue but also spending less than expected.
The result is a current budget surplus of almost $81,000.
The biggest problem is a shortage of more than one million dollars in projected tax revenue, but Schember says the city expects to collect that tax money at the end of this year or start of 2020.
The report also revealed during the first 12 business days of July, 16 LERTA permits have been issued for projects totaling almost 5.3 million dollars.