First, let’s get a few definitions out of the way.

Before we talk numbers, we need to understand a few basic terms so everything that follows is clear and transparent.

Surplus

A surplus means the city ended the fiscal year with more money than it spent.
Revenues exceeded expenses, and the leftover amount increases the city’s General Fund balance, essentially the city’s savings account.

Deficit

A deficit means the city spent more than it brought in.
That shortfall must be covered by dipping into reserves, cutting future spending, or raising revenue. A deficit reduces the General Fund balance.

Available Balance

Once a budget is approved:

Every dollar listed in that budget becomes part of the city’s available spending authority for the year, even if it doesn’t reflect actual cash on hand.

This is why understanding real beginning balances matters.
Paper authority is not the same as real money.
It is also worth noting that the city budget runs July to July every year.

A Clear Road Map of Falmouth’s General Fund Across Four Mayors

Let’s look at the actual financial path the city has taken, not the political version, not the rumor version, but the simple math.

1. Mayor Ron Stinson – From Surplus to Deficit

Beginning General Fund Balance:
➤ $324,322.38

Ending General Fund Balance:
➤ $163,507.38

What happened:
Stinson ran a deficit year.
The city spent $160,815 more than it brought in, nearly cutting the General Fund in half.

This is the financial condition Sebastian Ernst inherited.

FY22-23-Budget

2. Mayor Sebastian Ernst – Deficit Erased, Surplus Built

Sebastian began with Stinson’s ending balance:

Beginning General Fund Balance:
➤ $163,507.38

Before he could grow anything, he had to repair the damage.

First, Sebastian had to erase the $160,815 deficit Stinson left behind.
Only after filling that hole could the fund truly grow.

And grow it did.

By the time Sebastian was impeached, the actual General Fund balance was:

➤ $1,178,642

This number is not an estimate and not speculation-
it appears in Luke Price’s own budget, because that is the exact amount he labeled as “Surplus Expenditure.”

This means:

• Sebastian didn’t just stabilize the city.

• He rebuilt the GF from $163K → $1.178M+.

• A positive swing of over one million dollars in a single fiscal cycle.

It is one of the strongest financial recoveries Falmouth has ever seen.

Sebastian tends to round this to $1.2 million when discussing it.
It makes it easier and more digestible.
So he rounds up about $20,000 give or take. Fair enough.

From the very beginning of his administration, he focused on cutting wasteful spending.
He created a surplus, there is no getting around this.

Facts are facts.

And what did the fine City of Falmouth reward a mayor with after creating a $1.15 million surplus gain during his time in office?

They impeached him.

FY23-24-Budget

3. Mayor Luke Price – Reclassifying Sebastian’s Surplus

When Sebastian was removed from office, the General Fund held:

➤ $1,178,642

This is not Price’s achievement.
This is Sebastian’s accumulated surplus.

In Price’s FY24–25 budget, this exact amount appears as:

“Surplus Expenditure”   $1,178,642

Don’t be fooled — this isn’t a thing.
Not in city budgets, state budgets, or federal budgets.

“Surplus Expenditure” is simply a line item that means:

“I am allocating this money to spend.”

And spend he did.

Do you know what the balance was in July of 2025?
➤ $642,152

For those keeping track:

Once they impeached Sebastian, they spent $536,490

before even doing the 2025/2026 budget.

FY24-25-Approved-Budget

4. Interim Mayor Hazen

At the January 8, 2026 City Council meeting, Paul Maddox stated the city is going to run a deficit of $246,877 this year.

That deficit will reduce the surplus again.

We cannot tell you where exactly the $642,152 stood at the end of the fiscal year because, for some reason, the city has not posted the 2025/2026 budget.

But we do know this:

They will have a remaining surplus of $362,265.

(click on the pictures to get a full screen view)

A Simple Observation From the Cheap Seats

Since the council was so eager to impeach the most fiscally talented mayor the city has had in years. Someone with an accounting degree, who built his own budgets, and who runs successful businesses, let’s look at what their “better way” has produced.

They have spent $816,377 of the General Fund.

That does not include the $30,000+ they spent impeaching a mayor
who is objectively more qualified than the people who removed him.

Falmouth has also hired a treasurer and an accountant in the last fiscal year.

So glad it has helped…

And Now?

The current Mayor, Sabrina Hazen, is talking about:

• Investing $500,000 with the Kentucky League of Cities

• Hiring a city manager

My question is simple:

Where, exactly, is that money going to come from?

Because after three mayors, a surplus built by one, and spending under the next two…

There isn’t much left to work with.   Another perplexing thing that we came across today is someone running for Judge Executive, liked the post where she was talking about investing money the city doesn’t have.   Anthony Strong, why did you like with both your personal & campaign page?

As always we exist to promote real discussions and give voice to those that need amplified. Please like, share and comment accordingly. The whole of Falmouth needs to see what is really happening, not the spin that is put on it by those who don’t enjoy the optics.

Whisper One Out.