COLDWATER, MI (WTVB) – The Coldwater City Council approved proposed budget amendments to the City’s General Fund for the fiscal year ending June 30 on Monday night which reduces the budgeted operational deficit from the original approved amount of $111,000 down to $19,000.
The amendments also decrease the Council requested project spending from $1,550,000 to $1,215,000.
City Manager Keith Baker and Finance Director Tom Eldridge reported to the Council that building permit revenue will be above the forecast amount in part due to permit fees received for the apartment complex under construction on North Willowbrook Road as well as early plan fees paid for the future expansion of a local manufacturer and the proposed South Fremont Street senior apartments.
There were also increases in state shared revenue and interest revenue.
As for expenditures, the outcome of a state Tax Tribunal case brought by a box retail store resulted in both the reduction of current year tax revenues as well as a refund of prior year taxes.
Eldridge also reported the City hired two police recruits and paid for their police academy training. He also pointed out the increase in building permit revenue has resulted in higher contractual inspection costs by the City.
The City has also experienced several significant repair costs for vehicles in its fleet and additional expenditures for public safety equipment, capital and a sidewalk program.
Baker says additional budget amendments will be brought to the City Council in the upcoming months.
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