Michigan City
9s Finance Committee approved the claims docket for Aug. 19, 2025, totaling $314,928.25 and reviewed riverboat and rainy-day fund balances as the city prepares its 2026 budget. A motion to approve the docket was made by Dr. Cora and seconded by Mister Beatry; the committee voted aye with no opposition.

The action came during a financial update that included a review of riverboat-related funds. The city reported a riverboat fund ending balance of $2,999,944.84 and a rainy-day fund corrected to $1,167,400.42, for a combined fiscal-year ending balance of $4,167,435.26.

Why it matters: Michigan City uses riverboat receipts to support several operating and capital funds; fluctuations in those receipts affect how much the city transfers into other funds and therefore how departments plan for 2026.

City Controller Mary, speaking to the committee, said transfers budgeted from riverboat receipts have been held back pending clearer revenue performance. "I'm holding off on those because if the fund balances are positive, we may or may not transfer the entire budgeted riverboat transfer," Mary said. She said the only riverboat transfer made so far in 2025 was to the motor-vehicle-highway fund.

Mary told members that riverboat receipts for 2025 are running below 2024 and that the city is monitoring collections before making additional transfers. She said some transfers may occur in the third or fourth quarter depending on receipts and how comfortable staff feel about available cash.

The controller also walked the committee through the budget schedule for 2026. Key dates include a departmental budget presentation on Sept. 11 at 5:30 p.m. in the Emergency Operations Center (EOC) Room; a first-reading public meeting on Sept. 16 at 5:30 p.m.; council workshops set for Sept. 24 (with a tentative Sept. 25 backup) and a follow-up on Sept. 30; and a second-reading public hearing on Oct. 7. If a third reading is needed, it is scheduled for Oct. 21. Mary reminded the committee that the budget hearing must be concluded by Oct. 31, 2025.

On revenue drivers, Mary told the committee permit revenues have increased and permit fee changes have boosted cash balances in several funds. She also said an external audit will be published later; once the audited financial statements are available she will return with a fuller presentation.

Discussion vs. decision: The committee
9s formal action on Aug. 19 was limited to approving the claims docket. No formal action was taken on riverboat transfer policy or the 2026 budget during this meeting; the controller described monitoring and potential transfer timing as staff direction rather than a committee decision.

Looking ahead: Committee members will review the controller's budget materials in advance of the September workshops, and the controller plans to circulate audit results and further revenue analyses before the council considers final appropriations.