The City of Manhattan Director of Finance, Bernie Hayen, says the city’s debt is manageable as we forecast into the near future.
Hayen and his staff presented the 2012 revenue update, and the 2013 projections on Tuesday evening at city hall. 2013 city debt totaled to $262,332,038 and a chart released by the finance office shows overall debt managed by the city itself will continue to go down over the foreseeable future.
Commissioner John Matta wanted to see more detailed models and overlays for specific data sets to get a clearer picture of the overall state of the city’s revenues.
Commissioner Richard Jankovich cautioned those present that the projections don’t take into account upcoming legislation, and governmental cut backs which could affect the over all outcome of the city’s finances.
The commission work session included discussion on possible airport expansion financing, and the proposed library expansion’s impact on the city.
The next commission meeting will take next Tuesday the 19th, at 7 pm.