City budget picture is grim
For the Hub City Times
MARSHFIELD – Marshfield Finance Director Ron Aumann painted a somewhat grim budget picture for city aldermen on Sept. 8, as the common council prepares to draft a spending plan for next year.
Aumann told aldermen they’ll have to pick from a higher tax rate from the city or another downgraded credit rating from Moody’s, which recently dropped Marshfield’s rating from Aa1 to A1.
Alderman Tom Witzel said taxpayers are facing an increase regardless of what the city does, if a Marshfield School District referendum is successful in November.
In its downgrade of the city’s credit rating, Moody’s cited the city’s recent history of using its general fund balance to support other city funds.
Aumann will present an updated budget picture to the Council next month, as aldermen begin in earnest writing the city’s 2021 spending plan.