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10/26/2017

Fiscal Reality: Part II

Council discusses new revenue options for the City.
Council discusses new revenue options for the City.
At the October 19, City Council Study Session, Council continued their discussion about the City’s fiscal reality.  They hosted the City’s finance attorney from Miller Canfield and the Plante Moran auditors in order to enhance the conversation.  Council discussed the need for funding to maintain safety by improving the City’s infrastructure, and where that funding might come from. 

Experts from Miller Canfield and Plante Moran agreed with City staff that the City’s operations are already lean due to significant efforts to reduce costs in past years.  Pat McGow, the City’s finance attorney from Miller Canfield, explained that cities in Michigan are relatively limited in taxing authority since the only options for raising revenues are property taxes, income taxes, and fees.  In order to grapple with the much-needed infrastructure investments, other communities are looking at issuing bond millages or Headlee Override millages.  Both millage types would go on the ballot for voter approval before being approved.

City Council will continue discussing new revenue options at the City Council retreat on December 9 and 10.  

 

 

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