Baldwin’s financial condition continues to be precarious as town leaders consider whether to raise taxes, cut services or both.
Baldwin’s financial condition continues to be precarious as town leaders consider whether to raise taxes, cut services or both.
“The big thing to notice is it’s really important for these folks (council members) to make decisions about what services are important to the City of Baldwin and what services are we going to have to think about cutting out,” said Beth Grimes, a financial consultant with Bates Carter & Company.
Grimes went over the town’s preliminary financial numbers last Thursday night for the 2008 fiscal year, which just ended. The numbers show that Baldwin will again post deficits in both its general fund and water fund.
Baldwin’s reserves have been in the red for the last four years and only once in the last five years did the town spend less than it took in revenue. In effect, Baldwin has no reserve funds and had a negative fund balance of $114,000 at the end of its fiscal year in June.
“Either the millage rate is going to have to go up more, or you’re going to have to look at service and ask what’s important for Baldwin and what will we have to do away with,” Grimes said.
Baldwin’s 2009 tentative budget calls for a one mill tax hike, but Grimes said that even doing that wouldn’t help rebuild the town’s reserves.
For the complete story on Baldwin's financial issues, see the August 27 issue of The Banks County News.
