LEWISTON – City officials said they are happy with the city’s financial situation.

City spending increased $10.5 million, based on the fiscal year 2003 annual report presented to councilors Tuesday night. At the same time, revenues increased 9 percent, to $8.8 million.

“We are in extremely good financial situation,” City Administrator Jim Bennett said. “We have made some policy decisions over the last few years and we can see the benefits of those decisions now.”

General government spending increased 17.5 percent compared to fiscal year 2002, rising $821,084 to $5.5 million in 2003. Public safety spending increased $941,169 to $9.2 million in 2003 and education, culture and recreation spending rose $4.6 million to $46.2 million.

The city’s annual debt payments also increased 11.5 percent, from $36 million in fiscal year 2002 to $40.2 million in 2003.

Meanwhile, spending in Public Works stayed roughly even, decreasing less than 0.1 percent. Human service spending decreased almost 2.5 percent. Overall, city spending rose 10.7 percent, to $108 million.

Overall city revenues increased 9 percent compared to fiscal year 2002. That was led by a $1.3 million increase in tax revenues. The city collected $33.3 million in real property taxes and $5 million in personal property taxes in 2003.

Lewiston’s total debt increased from $78.2 million in fiscal year 2002 to $85.7 million in 2003. City and school debt increased $1.5 million and $1.7 million, respectively, while water district debt went up $4.2 million.

Annual debt payments went up $553,00 to $7.3 million.

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