Bucyrus finance committee members hold off on approving 2023 budget

Bucyrus finance committee members hold off on approving 2023 budget

Members of Bucyrus City Council’s finance committee chose not to pass the city’s 2023 budget during their special meeting Friday. Instead, they decided to think about it over the weekend and come back Tuesday.

“Why do you need the weekend?” Mayor Jeff Reser asked them. “What are you looking for that you don’t already know?”

Plans for Friday’s special finance committee and council meetings were announced late on Thursday afternoon, in the latter case just minutes before the city’s legal deadline to provide notification.

The meetings were called because Joyce Schifer, the city’s auditor, had been trying to get council members to address what she forecasts to be a $1 million deficit over the next year. She hoped they could pass the balanced budget before year’s end.

‘There are some repairs that won’t be made’

“The budget was cut drastically,” Schifer warned at the start of Friday’s finance committee meeting.

She had to take about $400,000 away from the street fund for street improvements — the city usually spends more than $1.5 million on such projects, but in 2023 will only have $1.1 million available.

Related Posts

Market Volatility and DCA: Strategic Advantages for Eurozone Investors

Market volatility has become a defining feature of investing, especially for those in the Eurozone. Whether it’s inflation spikes, shifting central bank policies, or geopolitical disruptions, European investors are navigating…

Hard Money Can Be Used as a Bridge Loan – It Often Is!

Hard money and bridge loans are technically separate things. Hard money always comes from private lenders whereas bridge loans can come from both private and traditional lenders. Likewise, hard money…