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City finance staff reports $939,779 current-year deficit as council hears preliminary budget
Summary
At a council public hearing, city finance staff presented the preliminary fiscal-year budget, reporting a current-year deficit of $939,779, a reduced unassigned fund balance (down ~1 percentage point) and a projected tax rate of 15.7944 mills under the Headley rollback; final adoption is scheduled for May 18.
Anna, a city staff member presenting the preliminary fiscal-year budget, told the Alpena City Council the city is facing a deficit in the current fiscal year and that the FY27 projection has grown since April. “We are estimating a deficit for the current fiscal year of $939,779,” she said during the public hearing. She added the draft shows the unassigned projected fund balance dropping about one percentage point from 16 percent as compared with the earlier draft.
Anna walked council members through the revenue and expenditure picture in the draft. She reported total…
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