The City of Manitowoc finds itself in a rather good place financially speaking. According to Mayor Justin Nickels, this was proven by two major points that were made at the Finance Committee meeting yesterday.
He noted in a Facebook post that the City’s total debt decreased by nearly $6.4 million during the current fiscal year, and that the unassigned fund balance sits at just over $5.6 million.
To put that in perspective, the unassigned fund only had about $16,000 in it when Mayor Nickels first took office in 2009.
That fund is basically the City’s savings account and can be used for whatever the City sees fit.
A more detailed financial report can be found at Manitowoc.org.
