Rate Reductions on the Horizon
by GalionLive • May 7, 2010 • Life in Galion, News & Views, The Future of Galion • 15 Comments

Attendees to this morning’s Galion City Council Finance Committee meeting were treated to a complex discussion with repeated references to fund balances, accounting principles and local governmental responsibilities. The real “meat” of the meeting, however, was a revelation that provided the first real hope of reducing the city’s unpopular and unwieldy utility rate increases.
All three members of the Committee were present for the meeting – Chairperson Walter Keib, Councilman Gail Baldinger and Councilwoman Roberta Wade. The meeting began with Keib laying out a general background of the increase, noting that for many years, accounting principles have led to a situation where fund balances in the general operations and enterprise (utilities) funds project an illusion of surplus and shortage that may have limited relationship to reality. In the operating fund, … Read the rest
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