Auditors Give Biloxi's Budget A Clean Bill Of Health

The city of Biloxi appears to be in excellent financial shape. On Tuesday, two auditors met with the city council. They explained their findings from an analysis of the fiscal year 2001-2002 budget.

As of last September, Biloxi had $42 million worth of capital projects under construction. And it still had millions of dollars in the bank.

"They've got good cash flow," CPA Stephen Theobald said. "They've been lowering the tax rate. And still their income is good. Even the gaming revenues held pretty well last year, with the September 11 crisis at the beginning of their fiscal year."

Biloxi has an operating budget of more than $50 million. In case of emergencies, Theobald says the city has more than $10 million in the bank.