Saginaw’s fiscal health is improving.
Several years ago, the city a fund balance of $245,000. City Manager Tim Morales says that amount would not last too long with a general fund budget of $34 million. Morales said as of June 30th, the city’s rainy day account, or fund balance, was $6 million, about 20% of the city’s budget.
At the end of the 2017-2018 budget year on June 30th, the city’s Andersen Enrichment Center had a deficit of just over $24,000. City Manager Tim Morales says the current year’s budget will be the last one with a deficit. Morales said by June 30th, 2020, the facility at 120 Ezra Rust Drive, is expected to show a
$14,000, plus, surplus.
The Saginaw City Council, Monday night, authorized Morales and city staff to submit a revised deficit elimination plan to the state treasury department.