PORTAGE (WKZO AM/FM) — The City of Portage has approved their budget plan for the next fiscal year, which begins July 1st in that community.
Portage City Manager Lawrence Shaffer says there is just a fraction of a mil reduction in the rate they will charge, but actual spending will be up.
They are pulling most of the money out of their reserve fund to work on roads. They will be spending over $17-million on infrastructure projects.
Portage currently carries 24% of their annual spending in a rainy day fund which is far more than the state requires and about 10% more than most other cities have in the bank.
Some council members feel they should either put it to work fixing more roads, paying off debt or return it to taxpayers.
They will have that discussion this fall when the books are finalized on the 2016 budget and they know exactly how much money they have in savings.
