Opportunity Cost: A look into Manhattan’s financial health Pt. 1

manhattan-ks-logoManhattan garnered national attention as a great environment for small business, and its strong growth has placed the city at the top of many lists lauding its ability to sustain that growing trend during the recession.

However, some community members remain concerned about aspects of city finance as it moves forward.  This series will delve into some of the  issues concerning the long term fiscal outlook, and provide context to those items with input from city personnel and concerned citizens.

Initially we’ll be outlining the following subjects:

GASB proposed changes:  The new reporting method for retirement funding is being completely overhauled, and is leaving many municipalities with a skewed balance sheet.

City Travel Budget:  With mayor Wynn Butler this topic has been at the forefront.  Mayor Butler believes the budget should be trimmed if it doesn’t provide a clear benefit.  Other city officials say travel is important to build opportunities for the city that would otherwise fall by the wayside.

Mill Levy:  Property owners feel the onus of city projects, but how does it all break down?  Who are the major players in setting the mill levy, and what are the mechanics involved in what property owners actually pay.

Every Friday we will release a new story under the umbrella of examining aspects of Manhattan’s fiscal health, and  begin with the possible GASB changes starting next week.  If you have any input about the series or comments and concerns you can email me at news@1350kman.com, or tomreust@ksu.edu.