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City of Algoma sitting fiscally fit for 2019

With municipalities throughout the state working to keep their budgets in line for the first quarter of the year, the City of Algoma is retiring some long-term debt.  Algoma was nearly at the maximum allowable borrowing limit just six years ago and City Administrator Jeff Wiswell says they are sitting in a lot better situation today. 

 

 

Wiswell adds that the city did borrow some funds early in 2018 when interest rates were really low.  He says Algoma is functioning at a very high level to stay on course with their three-year Capital Improvement Plan to address street construction and needed vehicle purchases.  

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