CITY OF ISHPEMING BUDGET
The City of Ishpeming has the following major governmental funds.
- General Fund is the City’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.
- Major Street Fund accounts for activities related to receipt of allocated state shared gas and weight taxes to be spent on certain “mile” roads designated as major under contractual agreement with the State of Michigan.
- Local Street Fund accounts for the allocated state shared gas and weight taxes for remaining City roads.
- Garbage Fund accounts for activities related to garbage and rubbish collection and disposal.
- Public Improvement Fund accounts for the activities related to development and improvement of the City’s general capital assets.
- Facilities Improvement Fund – accounts for the activities related to the remodeling of City Facilities utilizing USDA loans.
- Water System Replacement accounts for activities related to the water system replacement project.
The City of Ishpeming also has the following proprietary funds:
- Sewer Fund accounts for the activities related to sanitary sewer operations and booster stations and billing for services.
- Water Fund accounts for the activities related to water treatment and distribution and billing for services.
The City’s fiduciary funds are presented in the fiduciary fund financial statements by type (pension and agency). Since by definition these assets are being held for the benefit of a third-party (0ther local government, private parties, etc.) and cannot be used to address activities or obligations of the City, these funds are not incorporated into the government-wide statements.
BUDGET TIMELINES AS OUTLINED IN THE CITY OF ISHPEMING CHARTER
The City Manager, on or before October 15th of each year, shall submit to the City Council a proposed budget and an explanatory budget message.
A public hearing on the proposed budget shall be held by the Council at least fifteen days prior to the Council meeting at which the budget is adopted.
A budget shall be adopted by November 30th of each year. If the City Council takes no final action on the proposed budget on or before November 30th, the proposed budget, as submitted by the City Manager, shall be deemed finally adopted by the City Council.
Public input or questions are always welcome at any time.
Budgets can be found under Forms and Documents