Danville City Council Has $1.5M More Than Expected - WSET.com - ABC13

Danville City Council Has $1.5M More Than Expected

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Reporter: Heather Rosenbaum | Videographer: RJ Burnette

Danville, VA -- Danville City Council has $1.5 million more to spend than they anticipated. That's due to higher than expected revenue from Governor McDonnell's budget and from personal property tax.

Council members also discovered they have money from a loan to Telvista that has been accumulating. The $1.6 million loan was made in 2005, and including interest the city is accumulating about $8,000 a month.

Officials say their accountants were aware of this money, which was going into a city account, but council was just informed Monday that this money could be used for general funds.

"I think the council was surprised to find there was an additional three quarters of a million dollars available in the budget. At a regret that that was revealed so late in the process," said Joe King, City Manager.

It's important to remember that this money will not affect the school board's request of $2.1 million, because that is already in their budget and will be voted on next session.

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