Village aims to achieve financial sustainability at board meeting

September 20, 2018

Author:  
Cathy Kozlowicz

Source:  
The Courier

In preparation for the budget season and to achieve financial sustainability, the Marshall Village Board approved a capital improvement plan, funds for a new squad car and a strategic economic plan when they met Sept. 11.

Village Administrator Adam Ruechel announced that the village currently has a bond rating of AA-. “This is in the high-grade category which allows us to get lower interest rates when we got out to bonding agencies,” he said. He also said that can help the village achieve only a 3 to 4 percent interest rate on loans.

The capital improvement plan, which he showed to the board officials, is for 2019-2023. According to the plan, the purpose is to allow room for forward thought and discussion, to better prepare the village for change and to create long-term planning. It also integrates Capital Improvement Planning (CIP) into the annual budgeting process.

The plan incorporates some upgrades or expenses the village may need in the future so village officials can better plan.

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