COLDWATER, MI (WTVB) – The Coldwater City Council formally adopted the city’s initial 2018-2019 Fiscal Year budget Monday night which shows a deficit of $229,000.
Despite the deficit, City Manager Keith Baker said the city remains in a financially strong position with an operating fund balance reserve of 36 percent of expenditures.
Baker said the issue facing the City continues to be how to balance the operating budget with flat revenues and increasing costs.
But he pointed out that over 1,000 jobs have been added within the city with the start of operations at Clemens, the expansion of Sport Truck USA, and the new Schmitz Foam manufacturing facility.
Baker told the Council that the City will continue to examine capital spending and will delay big ticket purchases as long as it can be done safely.
