Wednesday, June 3, 2026

The Financial State of the City

At the Common Council meeting on May 26, Heather Campbell, city treasurer, reported that expenditures in 2025 exceeded revenues by $161,000, and that amount had been taken from the fund balance. This was an improvement over the previous year (2024), when $1.3 million had to be taken from the fund balance to meet expenditures.

Campbell reported that the overall fund balance was now $4.4 million, but the unassigned fund balance was only $1.395 million. She noted that is was recommended that a municipality have a minimum of two months' expenses in its unassigned fund balance, which for Hudson would be $2.6 million--twice what the City currently has. She advised the Council to work on building the fund balance. Councilmember Jason Foster (Third Ward) asked, "What does 'work' look like?" Campbell's answer was simple: "Increase revenue, or decrease expenditures."
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2 comments:

  1. John K. FriedmanJune 3, 2026 at 11:30 AM

    As a resident of the 3rd Ward, and former council member representing it, permit me to say "doh" on my and my neighbors' behalf. Mr. Foster -- you don't know what the job is yet? You're a quarter through your term. Perhaps time to do more than simply show up.

    ReplyDelete
  2. Hudson Common SenseJune 3, 2026 at 12:46 PM

    Will 2027 be the first year Hudson's budget exceeds $20m?

    Who knows how many of that $19.5m City of Hudson budget is raised from property taxes?

    A) $5m?
    B) $10m?
    C) $15m?
    D) $19.5m?

    ReplyDelete

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