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City of MC must use $648K in reserves to balance budget

City hall is set
City hall will use $648,000 from reserves to balance the budget

MASON CITY – The city of Mason City will need to spend $648,000 out of reserves to make ends meet in this year’s budget, city hall documents show.

City Finance Director Kevin Jacobson confirmed to NIT that the city “will be spending $648,000 more than budgeted out of reserves”.

He broke down the allocation of those necessary expenditures this way:

– General $141,000 of that, $21,000 is carryover money for a project that didn’t get complete in 2013, therefore, $120,000 is new.

– RUT (Road use tax) – $32,000, this is new

– Hotel/Motel- $30,000 that is budgeted in FY 15, but will be spent early due to the Main Street needs for RAGBRAII

– Sewer-$245,000 that is carryover from a project not completed in FY 2013

– Health Claims-Expenses were greater than anticipated.

Mr. Jacobosn attributed $296,000 of the $648,000 in expenditures where due to “timing issues from prior or future budgets.”

Mayor Eric Bookmeyer and the city council this spring approved a roughly 10% tax hike on the people of Mason City in order to balance this year’s budget.  They also approved hikes in water and sanitation rates.

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