Long Term Financial Plan Seeks to Shore Expenses on Capital Project with Looming Recession

By Eric Heinz 

As the city heads into this year’s budget cycle, the first step was taken in the process on Monday, March 11, during the Long Term Financial Plan Hearing.

The city has been seeing consistent trends in its property tax and sales-tax revenue and has touted its AAA bond rating, but as deferred maintenance costs continue to plague its capital improvements budget and with possible looming downtrends, a shoring of funds may come in the near future.

Assistant City Manager Erik Sund, who led the meeting, said that the city is continuing to prioritize the projects on a need-to-fix basis. Pensions and public safety contracts have also been a point of contention as far as the city’s coffers. More than 46 percent of the city’s operating budget goes toward public safety.

Another meeting on city finances will take place May 22, with the city’s budget adoption scheduled for June 4. The full meeting from March 11 can be seen on the city’s YouTube page.