Southaven Projects Record $16 Million Surplus, Mayor Tells Aldermen
SOUTHAVEN - Southaven's excess surplus is projected to reach $16 million to $17 million, up from about $12 million in the last audited year, Mayor Darren Musselwhite told the Board of Aldermen during his report at the board's July 22 meeting.
“We're actually going to have the highest surplus that we've ever had during my time as mayor,” Musselwhite said. Musselwhite has served as mayor since 2013.
The mayor pointed to the reserve as the reason the city could fund several purchases outside the normal budget process, including a new server system, street-striping equipment, and the relocation of a fuel pump.
The projected figure has not yet been confirmed by an independent audit. The city's audited financial statements for the current fiscal year will establish the final surplus number.
