The Michigan City Finance Committee on Aug. 19 approved a claims docket totaling $314,928.25 and heard an update from the controller on riverboat and other fund balances as the city prepares the 2026 budget. The motion to approve the claims was made by Doctor Cora and seconded by Mister Beatry; the committee voted aye with no opposition.

Controller Mary reported the riverboat fund ending balance at $2,999,944.84, the rainy day fund at $1,167,400.42 and a combined fiscal-year ending balance of $4,167,435.26 as of Aug. 19, 2025. The controller also told the committee that only the motor vehicle highway transfer has been made so far this year and that other budgeted riverboat transfers are being held until later quarters when receipts are clearer.

The controller said riverboat receipts from Blue Chip Casino are down about $349,000 compared with last year and that transfers budgeted in 2024 may be reduced if 2025 receipts remain lower. She told the committee she expects decisions about additional transfers in the third or fourth quarter when revenue receipts are clearer.

Committee members and the controller discussed the city’s midyear budget performance report; the controller noted the general fund is at roughly 43% of its budgeted expenses at midyear. She also said some fund balances are higher because permit fees and permit collections have increased.

The committee received the timeline for the 2026 budget process: the mayor’s budget presentation will be Sept. 11 at 5:30 p.m. in the EOC Room; first reading and a virtual public handout will be Sept. 16 at 5:30 p.m.; a council public workshop with departments will be Sept. 24 at 5:30 p.m. (with a tentative backup of Sept. 25); a follow-up workshop on Sept. 30; and a second reading and public hearing on Oct. 7. The controller noted the budget hearing must be concluded by Oct. 31, 2025, and a third reading, if necessary, is scheduled for Oct. 21.

The controller said the Department of Local Government Finance (DLGF) materials have been compiled for the budget and that a full audit will be discussed after the audit report is published. She told the committee she will return to review the published financial statements and the full audit.

No public comments were received during the committee meeting. The finance committee adjourned at 6:18 p.m.