COLDWATER, MI (WTVB) – The Coldwater City Council will hold a fiscal year 2017-2018 budget workshop Monday night following their regular meeting.
City Manager Keith Baker said in his packet for the Council members that the city is looking at projected budget losses of $131,000 in 2018 and $650,000 in 2019.
He says the major reasons are slow revenue growth, increases in retirement costs, new debt and continuing capital needs.
The projected fund balance for 2017-2018 is over $2.8 million but it drops to over $2.1 million in 2018-2019.
Baker says overall, revenues look to be very flat through 2019.
After being at $9.27 million in 2017, revenues are expected to be at $8.93 million in 2018 and just over $9 million the following year.
