City Touts Fiscal Health In First Hearing On Proposed Springfield City Budget

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As Springfield winds down its current fiscal year with a record fund balance, city officials are predicting continued healthy finances in the coming year… despite fears of a recession.

The city held the first of several hearings on Mayor Jim Langfelder’s proposed budget Tuesday night. Budget director Bill McCarty says the budget accounts for the possibility of a recession, even though some analysts are downplaying that possibility. And he says the city based its revenue projections on pre-pandemic numbers, rather than on the unusual revenue spikes of the past two years caused by federal stimulus funds.

But even with that… and with plans to spend down some of the fund balance on items like additional pension contributions and new firehouses… the city still expects to finish the next fiscal year with more than $28 million on hand in the corporate fund.

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