TERRE HAUTE, Ind. – At last night’s Terre Haute City Council meeting the city’s financial consultant Umbaugh and Associates reported that the financial picture is looking better.

The consultant, Paige Sansone said that the city is headed in the right direction and reducing the deficit.

At the end of 2016, several of the main operating funds had a negative cash balance totaling $7.1 million but at the end of 2017, the numbers improved rather dramatically, and the funds had a positive cash balance of $232,000.

The council received budget drafts for next year.

There will be a public hearing on the budgets September 6th at 5:30 pm. A special meeting for discussion is September 19th at 5:30 pm and then the council can vote on the budgets at their meeting October 11th at 6pm.

Also last night the council took final action to rescind tax abatements to Sony DADC and Lenex Steel.