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Mayor Mueller details city finances, warns of rate pressures and sea‑1 uncertainty
Summary
Mayor James Mueller presented the city's 2025 financial update, reporting a $19.3 million spend‑down in operational funds (partly one‑time), $771.6 million in net capital assets, and plans to balance essential water, sewer and PFAS costs while minimizing rate impacts on residents.
Mayor James Mueller told the Common Council on Jan. 26 that the city remains in a strong fiscal position but faces near‑term pressures that will require difficult choices. "We have a double A bond rating," Mueller said, but added the city must "work hard to maintain it" while addressing infrastructure needs and state policy changes that could affect revenues.
Mueller said the city's total net book value of capital assets for 2025 is $771,600,000 (net of depreciation) and reported $29,000,000 in capital expenditures in 2025. He attributed a visible 2024 cash…
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