COLDWATER, MI (WTVB) – The City of Coldwater is moving to strengthen its financial position, proposing a series of budget amendments for the 2025-2026 fiscal year that would trim the projected deficit from $197,000 to $147,000.
This improvement is driven by a $792,000 surge in revenue, largely fueled by a spike in building permit fees from major local construction projects at a manufacturing plant and distribution center. Additionally, the city benefited from unbudgeted state payments, elevated interest earnings on conservative investments, and $80,000 in forfeited pension contributions from non-vested employees.
While revenues are climbing, the city is also adjusting for $742,000 in new expenditures. Key costs include higher public works overtime, increased inspection fees related to the building boom, and necessary repairs to a large grinding machine shared with neighboring communities.
The city also invested in equipment, such as a used garbage truck for leaf collection and a new mower, while strategically using surplus funds to increase pension contributions to offset future costs.
Finance Director Tom Eldridge and city leadership remain optimistic that these conservative adjustments will lead to a positive final operational result.
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