Moberly Exceeds Budget

| February 13, 2013 | 5:45 pm
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The City of Moberly is still dealing with expenses related to the failed Mamtek sweetener factory.  Click to hear KMZU’s Kristie Cross speak with City Manager Andy Morris:

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In past years, they have typically budgeted $50,000 to $100,000 for legal fees.

“Some are related to Mamtek; a lot of them are related to Mamtek, quite frankly, and then some of them are other legal expenses,” said Morris, “In the last two years we’ve exceeded that amount.  We’ve made some adjustments, not only in reducing some expenditures here, but some adjustments in our fund balances, to address those rather high legal expenses.”

Morris said, despite the legal fees, the city’s budget is better than it was four years ago.

In related news, former Mamtek CEO Bruce Cole has been charged with inappropriately using the funds of a $39 million bond from the City of Moberly.

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