Wadsworth projects $144 million budget, slight surplus for 2027

Wadsworth officials are projecting a slight surplus in the city's proposed 2027 budget, a spending plan totaling approximately $144 million that remains under review. City administration introduced the annual appropriations ordinance during Wednesday's City Council meeting. The proposal covers the fiscal year beginning Jan. 1 and ending Dec. 31, 2027. The General Fund, which supports many of the city's day-to-day operations, is projected to have an approximately $85,000 surplus, according to the presentation. Officials said they expect revenues to exceed expenses and the fund balance to increase. The city also described the overall proposed budget as having a slight surplus, with projected revenue just above expenses. The roughly $144 million figure represents the gross overall budget, not the General Fund alone. During the discussion, council members asked whether the proposal accounts for concerns about tax revenue and the possibility of deficits in 2026 carrying into 2027. City administration said those concerns had been considered in preparing the budget. The proposed appropriations include about $21.75 million for the General Fund and $3.48 million for Emergency Medical Services. The Street Operations Fund is budgeted for approximately $2.97 million, while the Storm Water Fund includes about $2.82 million. The city's utility funds account for larger proposed appropriations, including approximately $40.29 million for electric, $23.05 million for water and $17.61 million for sanitary sewer. The telecommunications fund includes about $9.39 million in proposed appropriations. Those figures represent proposed appropriations by fund, rather than a breakdown of actual spending to date. The overall budget figure also should not be confused with the General Fund amount. The capital budget also includes costs tied to the downtown project. Administration told council the project would be financed through external bonds. Officials said they had received an updated estimate, with bids expected Nov. 17 and a call with S&P scheduled for Nov. 18. A firmer cost figure was expected after that process. At Wednesday's meeting, city officials said the finance review was expected to wrap up that week and that the official budget books had not yet been completed. Administration anticipated some changes before the budget is finalized, and the ordinance could be amended as the review continues. Additional budget discussions involving Public Service and Public Ways this week. The ordinance was introduced Wednesday and moved to a second reading. Under the city's typical schedule, the measure receives a second reading at the council's second meeting in November and a third reading at the first meeting in December. The city generally adopts its budget at the first or second meeting in December. Until council takes final action, the figures remain projections and could change during the review process. Contact Brooke Adams at 440-822-8373 or badams@medina-gazette.com.