Shrinking City Surplus Is A Symptom Of A Bigger Problem
Jamestown City Council members are expressing concern over the city’s shrinking surplus. They’re right to be concerned. The city should have roughly two months’ worth of savings to be able to keep the city running in case something catastrophic happens and anticipated revenue doesn’t come in. That would mean carrying about $7.5 million in its surplus at any given time. Jamestown will head into 2026 carrying about half of that amount after allocating an expected $3.5 million from the surplus to lower a nearly 10% tax hike. While the fund balance is a concern, it isn’t the ...