OWOSSO – AUDIT SHOWS OWOSSO IS “FLUSH” WITH TAXPAYERS MONEY!! The yearly audit came back Monday showing Owosso added close to another 100 grand to its approximate 3.4 million sitting in the bank. The State recommends that a municipality have somewhere between 15% to 20% of a year’s operating expenses held in a fund balance. Most municipalities operate with much less in reserve. The County has only an approximate 6% in fund reserve. Owosso though now has close to a 32% reserve. The question is when is enough… enough? The city has cut back to bare bones only to bank money. Money held in reserve is being fiscally responsible but again when is enough enough? When doses it become fiscally irresponsible to just keep raising peoples taxes to just bank money? With close to 42% of Owosso’s tax payers living near, at or below the poverty level, why can’t the city give its people a break instead of trying to convince the voters that they need to pay more taxes? The city can if it so desires, reinvest a portion of that money sitting in a reserve fund into the city’s infrastructure, namely the streets. Why at this time does the city refuse to fix the streets while sitting on money that could be used? It could be viewed by some only as a tactic to punish the voters for not raising taxes on themselves. With the city, according to the State, fiscally responsible by having only a 15 – 20% fund balance would it not be more responsible to reinvest some of that money back into the community?. Click on link to the City’s Dashboard https://accessmygov/MunicipalDashboard/FinancialData?uid=666 Tom Manke, Editor
Posted on: Thu, 18 Dec 2014 21:43:03 +0000
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