City officials here have been whittling away at the proposed 2014 budget, attempting to balance expected revenue with expenses.
Clerk-Treasurer Chris Stidham said they likely won't reach a balanced general fund budget by the time the City Council approves the proposal in October.
At a City Council Budget Committee meeting in July, the proposed budget was some $800,000 over anticipated revenues. By this week, the deficit was whittled down to about $229,000.
Stidham said he anticipates officials will be able to cut the deficit to $150,000 by an Aug. 20 budget committee meeting, but doesn't see where any additional cuts can be made. The public hearing on the budget will be held at the City Council's Sept. 3 meeting and scheduled for adoption on Oct. 1.
Stidham said he sees revenue falling for the city in 2014.
"The overall tax rate is 3 percent. As the tax rate gets up to 3 percent, more and more property is being capped out," said Stidham, adding officials also estimate a decrease in assessed valuation in Portage Township by 6 or 7 percent.
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