Politics & Government

New Baltimore Praised for Budget in Black

A financial report for the fiscal year ending in June 30, 2011 was presented Monday night before city council.

 

As other metro Detroit cities grapple with financial woes, is staying afloat with a budget in the black.

Speaking of giving financial reports for struggling cities like Pontiac, Carl Johnson of accounting firm Plante & Moran, told City Council Monday night: "I'm the Grim Reaper there. Here, it's a much nicer story."

Find out what's happening in New Baltimore-Chesterfieldwith free, real-time updates from Patch.

The so-called gold standard, unqualified opinion on the city's financing for the fiscal year end of June 30, 2011 cited an approximate $5.6 million general fund.

"The city did a great job basically living within its means," Johnson said.

Find out what's happening in New Baltimore-Chesterfieldwith free, real-time updates from Patch.

Although the community lost about $200,000 in property tax income due to the dismal housing market, Census population strides over the past several years and a well-managed budget helped keep the city in good shape compared to many other local cities that lost residents, he said.

He cautioned though that council may need pass gradual increases of about 10-15% in water and sewer rates in order to keep pace with costs.

"Keep monitoring those and adjust those rates accordingly."


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