$600K Pulled From Reserves To Balance Budget

The Craig City Council introduced the City budget for 2018 at their meeting last night. The budget calls for $8.7 million in spending, with revenues estimated at $8.1 million, requiring the city to take $600 thousand from its reserves to cover the deficit. This leaves the city with around $1.2 million in its reserves, which at the current pace would be depleted in 2 years. According to Craig Mayor John Ponikvar, the city was able to come up with the budget without making extreme cuts to city services, like the pool or police department. However, Ponikvar says that if current budget constraints continue, more severe cuts are expected in coming years. The city is optimistic a sales tax increase of 1.75% will pass in the upcoming election, which would help the city deal with their budget shortfalls. If the increase is passed, the city estimates it would increase revenues by $2.1 million annually.

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