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Minot staff warn reserves could be exhausted by 2028 without cuts or new revenue
Summary
Minot finance staff told the city council that even with the 3% levy cap and several corrective measures, projected reserves could fall below the statutory minimum by 2028; staff sketched spending cuts and revenue options and will return with a -3% cuts package by April 15.
City finance staff and councilmembers warned Monday that Minot could exhaust its general-fund reserves within a few years unless the city pairs spending reductions with new or redirected revenue.
Finance staff presented multiple scenarios for 2027–2029 showing that under a status-quo budget (the 2026 property tax level plus the 3% cap and 1% growth) the city would fall below the one-twelfth reserve requirement and, in some models, be more than $20 million in the red by 2028. Dave, the finance staff presenter, said…
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