April 23, 2015 —
The new city budget presented to the Hudson City Council at their meeting Tuesday night is still tight but recovering from the very tight budgets of recent years.
The new budget will allow the upcoming fiscal year to end with a fund balance over $300,000 in the general fund, which is up considerably from previous years. It has been as low as $50,000 in recent years. On the advice of the city auditor, council hoped to build up the fund balance up to a quarter’s worth of operating expenses, in the range of $400,000.
The majority of the budget changes this year involve capital improvements in Hudson. The biggest one is the reconstruction of Pleasant Street Phase II, the section between Grove Street and US-127. This years budget is for the project to cost $240,000 but buds have come in lower than expected, so City Manager Steve Hartsel expects that the project will have some funds left over.
The other major capital improvement project planned for this year is the preservation of the Jackson and Mechanic Street Bridges. This project has been budgeted $225,000. Most of the funds for this project will ultimately come from state grants.
The city will also concentrate on the rebuilding of the parking lot behind the city offices. The project is budgeted for $135,000, two thirds of which will be funds from the Downtown Development Authority.
The overall budget shows revenues and expenses of about $4.5 million dollars.
“We expect the overall financial picture to continue to solidify over the upcoming year,” Hartsel said. “At the same time we are planning on completing significant infrastructure improvements within the city.”