Beaumont Negative $28 Million General Fund Balance

With a General Fund Revenue of $16 Million; Beaumont claimed a total Revenue of $183,967,387.06 and total Expenses of $193,076,443.29.

In an effort to meet the Securities and Exchange Continuing Disclosure deadline of December 31st to upload their Annual Financial Statements; the City of Beaumont has uploaded its 2018 Consolidated Balance Sheet and Income Statement.

The Consolidated Balance Sheet has listed ‘Claim on Cash’ as a negative balance of -$28,961,354.15.

In Fiscal 2018 the City of Beaumont, with a General Fund Revenue of $16 Million, claimed a total Revenue of $183,967,387.06 and total Expenses of $193,076,443.29. Every year since 2002 the City has spent $6 Million to $12 Million more than they collected in Revenue.

And where is that 2018 Audit that The Pun Group was to have completed by the end of December?

Read City of Beaumont 2018 Balance Sheet here: https://emma.msrb.org/ES122561…

Read City of Beaumont Income Statement here: https://emma.msrb.org/ES122561…