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Terre Haute Expecting Balanced Budget In 2019

City-of-Terre-Haute-sign.jpg

The budget for 2019 marks the fourth consecutive balanced budget for Terre Haute. (WFIU/WTIU News)

Terre Haute officials are predicting a balanced budget for 2019. That’s after the city spent years working to eliminate a multimillion-dollar deficit.

Mayor Duke Bennett and other city officials say the city is on the way to recovering from that deficit, which peaked at over $9 million in 2015. And part of that is the result of yearly budgets; the budget for 2019 marks the fourth consecutive balanced budget for Terre Haute.

The city has had to pursue some short-term borrowing to keep that balance and cover day-to-day expenses. That includes loans from other departments, like the city’s redevelopment commission.

City council member Karrum Nasser says this year is different. He says the addition of new taxes, including a public safety tax, have added more than $2 million in revenue that the city didn’t have in previous years.

"We reduced our borrowing capacity for this last year. We only had to borrow $4 million,” Nasser says. “So hopefully we can use this extra revenue that we’re getting to eliminate the need for short-term borrowing.”

Nasser says the budget is in a place where the city can start looking at “quality of life” projects, such as a proposed convention center.

The proposed $25 million convention center is a joint project from the city and county. Nasser says funding from the city will come out of the economic development tax and won’t be detrimental to the budget.

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