October 20th City Council Agenda Update

A couple points from tonight's City Council meeting:

We have a new business coming to town. Marla Properties is buying the former Midwest Metal Framing building. This roughly 25,000 square foot building will be the home to the assembly of the Mcgyan Reactor along with other functions. Another positive outcome of the Ever Cat Fuels project.

We approved the Economic Development Director position. I am dedicated to get the right person for the job even if it takes a bit of times. This is incredibly important to the City moving forward and we must do the best job possible.

I shared some difficult financial news with the Council tonight. I have been tracking the cash on hand the cash generated by the Liquor store. We have budgeted to transfer over $150,000 to the general fund as we do each year but the cash has not been generated over expenses to do that. We may be $80,000 to $100,000 short by the end of the year. We will not know for certain until the end of the year but we will need to draw down that same amount from the general fund reserves to balance our already reduced budget.

We are facing very difficult times and we have a financial cushion from our good stewardship the last two years. There are some that look at the cash we have on hand and think how can we spend it. I look at it as how can we make it last through this national financial storm.