Posted: Jul 14, 2014 5:01 PM by Jason Newton
Updated: Jul 14, 2014 5:48 PM
NEW ROADS - An audit done on the city of New Roads is putting city officials under pressure to cut spending.
Money's been spent on major projects to build up the city's infrastructure. An audit was done on the city's finances for the past year. It found the city cannot continue to spend money at the current rate or else it will need to find a way to raise revenue.
Construction continues on a new senior living facility on Memorial Boulevard. It's one of many new projects underway on the city's newly completed commercial corridor. According to Mayor Robert Myer, it's the first new road that New Roads has seen in a while.
"New Roads has been stagnant for too long," Myer said.
Myer is proud of the work done under his watch. He calls the money spent on roads and infrastructure an investment for economic development.
"All this was done without raising taxes or fees," Myer said.
The audit done on city finances sends a stark warning. It read "the expenditure of funds cannot continue at its current price without an increase in revenues."
"No cause for concern at all," Myer said. "We're excited about the audit report."
Myer said new businesses are responding and coming to town. And New Roads now operates its own utility company, making profit from the added energy that each company consumes. He's confident the city will now start to reap the benefits of the build up.
"We have a 24 percent increase in sales tax revenue," Myer went on to say. "Our property taxes are up, utilities up 8 percent."
The audit report will be presented to the New Roads City Council tomorrow night.