COLDWATER, MI (WTVB) – The Coldwater City Council approved budget amendments to the City’s General Fund for the fiscal year ending June 30, 2022 Monday night which decreases the budgeted operational deficit from the originally approved amount of just over $559,000 down to over $495,000.
The city’s total general revenue now stands at over $10-point-4 million.
City Manager Keith Baker said the deficit was reduced due to over $306,000 in increased revenues and over $242,000 in operational expenditures. He said building permit revenue will be above the forecast amount in large part due to significant plan review fees paid for a planned apartment complex on North Willowbrook Road.
In addition, the forecast for the City’s State Shared Revenue has increased and the State approved the City’s request for reimbursement of damage costs related to the August 2021 storm and the two Coldwater Rotary clubs combined forces to fund a handicap accessible kayak launch at Rotary Park which is set to be installed this Spring.
As for the added expenditures, the city had to buy an additional cyber insurance policy due to increasing cyber threats. The City also incurred significant legal fees associated with the police union arbitration as well as in the negotiation of a PA 425 agreement with Coldwater Township.
In addition, the increase in building permit fees has resulted in higher inspection costs.
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