COLUMBIA, 1/23/17 (Beat Byte) --
Despite gloom-and-doom budget talk from Columbia city manager
, City Hall's massive savings account was
up $7 million
in the 9-month period from Sept. 2015 to June 2016
The June figure -- the latest available from the
Comprehensive Annual Financial Report (CAFR)
-- shows city government sitting on over $306 million ($306,000,000.00), up from 2015's $299 million (
see charts -- click for larger images
Known as "pooled cash and marketable securities," the money represents decades of excess revenues the private sector calls "profits",
socked away with little fanfare -- or public scrutiny.
The revenue comes from fees, fines, grants, taxes, and what may be the city's largest cash cow, charges for water, sewer, trash, parking, elect...