$1.4 million proposed deficit in preliminary 2018 M.L. budget
It isn’t finalized yet, but council and city management are foreshadowing a proposed $1.4 million deficit for next year’s budget.
Mayor, council and managers met on Saturday, Oct. 21 to review 2018 budget items including proposed expenditures which dip the city in the red. Before the final budget is adopted, city manager Diana Burton said council will have to determine if changes are warranted, or what amount the city should borrow for future infrastructure investments. Depending on feedback council may shelve certain proposals.
Burton said when it comes to day-to-day running of the city, there’s an expected $10.9 million in revenue with $8.66 million already slated for expenses.
There were several proposed items to council, some of which were given higher priority than others.