Birmingham Looks at Shrinking Fund Balance As Part of Financial Forecast
The city also will need to find more revenue for its local and major street funds, according to the five-year financial forecast presented Saturday during Birmingham's long-range planning session.
In the next five years, Birmingham has a lot of projects in the pipeline. But if the city wants to pay for them, they're going to have to watch their wallet. That was the message from the accounting firm Plante Moran, which presented its five-year financial forecast for the city of Birmingham Saturday. Overall, Birmingham's finances aren't in bad shape though the city will have to address a shrinking fund balance, increases in water and sewer rates, as well as a projected deficit in the funds used to pay for road construction projects. "The financial forecast that has been presented this year is dramatically improved from what has been shown in past years," the report reads. "The city's willingness to conservatively forecast, and then to …
In this Article:
