COLDWATER, MI (WTVB) – A public hearing and adoption on the proposed 2017-2018 fiscal year budget for the City of Coldwater will be held during Monday night’s Coldwater City Council meeting.
The budgets include the City’s general operating funds, special revenue funds, tax increment financing authorities of the Downtown Development and Local Development Funds, as well as budgets for the Coldwater Board of Public Utilities.
After a pair of amendments were passed, the budget has a deficit of about $100,000 after starting the year $584,000 in the red.
The first budget amendment updated the order of arrival of the fire trucks that the City has contracted for. A pumper truck was moved forward to 2017 while an aerial ladder truck was pushed back to 2018.
The second amendment accounted for greater than expected proceeds from the Recreation program, increases in building permits and recognition of proceeds of asset sales. Expenditures were increased to reflect new public safety contracts, the payout of accrued benefits to a long time public safety employee, and to account for the costs associated with the City taking over youth baseball.
City Manager Keith Baker says even though there is a $100,000 deficit, the city remains in a financially strong position. While there are short term problems such as balancing the operating budget with flat revenues and increasing costs, Baker feels the longer term is filled with promise.
He points out that with the planned September start of operations at Clemens Food Group, the expansion of Sport Truck USA and the construction of the Schmitz Foam manufacturing facility, over 1,000 jobs are being added within the City.
