Davidson town commissioners have passed a budget:
Meanwhile, the town will help fund the MI-Connection subsidy by spending $804,179 from its reserves, known as its fund balance. That will reduce the reserve from a current $3.47 million, or 41.3 percent of operating expenses, to $2.67 million or 31.7 percent of expenses. Town officials have said reserves likely will be needed again next year, when MI-Connection would need an additional, though likely smaller, subsidy.
Considering the fact that the town borrowed $92 million –without voter approval — they’ll need a subsidy, alright, but who’s to say it will be smaller? I guess this is why Sen. David Hoyle would tell you he’s trying to save cities from themselves.
