Water System Sets Budget
The Garden City Water System’s new budget will likely show income of $54,000 and expenses of $56,000, according to figures presented to the Glasscock County Commissioners’ Court by County Treasurer Alan Dierschke Sept. 8. Major budget items are: system manager’s salary $15,600, insurance $12,000, electricity $7,000, and repairs and upkeep $6,000.
Revenues are projected to be $53,000 from water sales and $1,000 from interest and miscellaneous income. The water system had $49,000 in its investment account in June 2003.
County Investment Report
Dierschke gave his quarterly report of the county’s investments. In June 2003, the county’s operating funds were drawing .05 percent interest, while both the investment account and the interest and sinking fund for the bond to fund the Community Center were drawing .86 percent at the First National Bank of Sterling City, Glasscock County branch. Funds invested in TexPool were earning 1.197 percent. In June, the county had an average daily balance of $18,000 in its operating account, $1 million in its investment account, $39,000 in TexPool, and $154,000 in its interest and sinking fund.