The Springfield Office of Budget Management presented an optimistic mid-year report to the City Council on Tuesday.
City Budget Director Ramona Metzger said revenue so far this year has been stronger than was originally forecast.
Metzger said delayed equipment purchases and “natural hiring lags” in the current fiscal year contributed to a higher-than-anticipated fund balance estimate.
Pension funding expenses continue to be a major cause of concern for the city’s budget, as Metzger noted that this year’s property tax levies are expected to fall roughly $4 million short of necessary levels.
