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Audit Shows Terre Haute's Finances Are Improving

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The city ended the year with a positive balance of $1.2 million in its general fund. (WFIU/WTIU News)

Terre Haute’s finances are showing significant improvements, according to a state audit released this month.

The audit, which covers all of 2017, shows the city ended the year with a positive balance of $1.2 million in its general fund. That’s compared to a deficit of more than $8 million in the same fund at the end of 2016. And overall, the city’s earnings exceeded its expenses.

But some areas continue to have a negative balance, inlcuding the city's struggling golf courses. The Hulman Links golf course has a deficit of more than $4 million, and the Rea Park golf course has a negative balance of $1.2 million.

Overall, the city has eight funds operating at a total deficit of just over $5.7 million. That’s compared to nine funds with a combined deficit of $15.7 million at the end of 2016.

Last year, state officials voiced concern about Terre Haute’s ability to continue operating as a municipality due to the multi-million dollar deficit. The city has been dealing with a deficit for years; it peaked in 2015 at a total of $9 million.

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