GRAND RAPIDS, Mich. -- Grand Rapids city commissioners broke down the proposed fiscal year 2017 budget of $473 million at Fountain Street Church Tuesday night. City Manager Greg Sundstrom told FOX 17 the city is in its best financial shape in over 20 years.
The largest expenditures will go to the Grand Rapids police and fire departments, water and sewage services, and infrastructure. City officials studied the budget during Tuesday's public meeting and gave the the thumbs up ahead of next Tuesday's final decision. Thanks to smart saving, the city is financially out of the red and well prepared for another year of growth, Sundstrom said.
"I think we are in the best financial shape we have been in, certainly in our modern history, certainly in the last 20 to 30 years," said Sundstrom. "The most exciting thing I can tell you about this budget is residents may recall in 2010 they approved the temporary income tax. That temporary income tax, over the five-year period, generated along with some other savings about $60 million."
Not only is this the largest budget in Grand Rapids history, but the city has the highest level of financial reserves, which could be used to combat any future budget shortfalls.