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Finance director previews 2026 budget, reports 2025 fund balances and explains grant accounting
Summary
Finance Director Gray presented the revenue and expenditure report through Sept. 30, 2025, outlined projected year-end balances, explained how CWSRF/DWSRF reimbursements affect utility fund statements and previewed items for the 2026 budget process.
Ishpeming '025 '025: Gray, the city's financial director, briefed the council on the revenue-and-expenditure report for the period ending Sept. 30, 2025, and outlined items staff wants council to consider during the coming budget season.
Gray told the council the general fund is projecting an approximate $25,000 surplus at year end and reported an ending general-fund balance of $787,000 as of Sept. 30. Major-streets fund figures included a year-to-date net revenue over expenditure of $108,000 and an ending fund balance of $1,090,000, Gray said. He reported an ending water fund balance of $11,700,000 and said the report shows $2,000,000 in federal grant revenue recorded for September and $5,500,000 in DWSRF grant revenue for the month.
Gray explained that some large…
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