Floyd County’s $1.1 million deficit shrinks to $391,000

NEW ALBANY, Ind. (AP) _ The auditor of a southern Indiana county who had forecast a $1.1 million budget shortfall says its general fund deficit has shrunk to $391,000.

Auditor Scott Clark told the Floyd County Council on Tuesday that the sheriff's department spent about $300,000 less than budgeted. When added to unanticipated revenues the county received, that left the deficit about $725,000 less than he estimated.

Clark announced at a Dec. 15 council meeting that the county had a shortfall of more than $1.1 million in its general fund. In the county's state-approved 2015 budget, the general fund was budgeted at $10.7 million.

Over half of the remaining debt would be wiped out once the city of New Albany pays $174,000 it owes for the 2015 municipal elections.