The Goshen City Council unanimously approved the city’s $69.8 million 2022 budget Tuesday night.
Mayor Jeremey Stutsman told the council last month that the city currently has the largest cash balance in decades, with 16 months — or 135 percent — worth of reserves.
The city’s 2022 budget was developed with a focus on spending down some of those reserves.
That includes investments in infrastructure such as repaving streets and upgrading parks, equipment and a 7 percent raise for Goshen police and 3.5 percent raises for all city employees.
Stutsman also told the council in September that he wants to keep around six months, or 50 percent, of cash reserves going forward. He said that’s in line with recommendations from the state of Indiana and the city’s financial advisors to keep between two and six months of cash reserves.
Contact Jakob at jlazzaro@wvpe.org or follow him on Twitter at @JakobLazzaro.
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