COMMUNITY ADVOCATE – The City Council approved Mayor Arthur Vigeant’s recommended $173 million budget for Fiscal Year (FY) 2021 that goes into effect July 1 at its April 27 meeting. The budget represents a 2.9 percent increase over the current FY 2020 budget. The budget passed by 6 – 5 vote.
In Vigeant’s letter to the Council, he stressed that while many communities are holding off on their 2021 budgets due to “unknown local revenues and state aid” in the current FY 2020 year, he is “considering this a base and does not expect this to be a final product when we look back at FY 2021.”
According to Vigeant, the current state models show up to a four percent shortfall for in state aid for this year and as high as 15 percent for FY 2021.
“With our cash reserves and Rainy Day Fund, we have positioned ourselves for just this time,” Council President Michael Ossing said. “We can absorb this if we have to.”
This budget includes a slight decrease in the FY 2021 residential tax rate for the average homeowner, according to Ossing.
Read the full article by Vicki Greene here.