Greenwood had been spending more than its annual income when Mayor Mark Myers took office last year, but he said gutsy decisions fixed the city’s finances.
During his second State of the City address, Myers said the city has had a productive year and made progress on a number of goals, including lengthening the airport’s runway and buying a new city hall. Greenwood can now focus on the future and projects such as a new pool, a YMCA at Freedom Park and Old Town revitalization, he said.
Last year, Greenwood had faced a $1.9 million deficit, a $1 million overrun in health insurance expenses and a shortfall of $1.5 million in its sewer utility, Myers said.
The city was poised to spend down the money it had in the bank within about 18 months.
But the city made tough decisions, including to raise sewer utility rates and create a new stormwater utility fee, to address the financial problems, Myers said. He credited the Greenwood City Council with putting good policy and the city’s best interests ahead of safe politics.