During a recent government meeting, council members discussed the implications of the city's financial strategies, particularly concerning the general fund balance and its impact on bond ratings. One council member emphasized the importance of maintaining a healthy fund balance, stating that financial agencies, including Standard & Poor's, closely monitor this balance when assessing the city's ability to issue certificates of obligation. The council member warned against withdrawing funds from the general fund, as it could signal instability to potential bond buyers.

Councilwoman Eva Field raised concerns about the financial burden on citizens, highlighting that any increase in costs—whether through water rate hikes or bond repayments—ultimately affects residents. She requested clarification on how a proposed 7% increase would impact citizens, particularly senior citizens.

In response, Dr. Toney provided reassurance that, despite the increase, senior citizens would actually see a reduction in their water bills due to a previously approved discount. He noted that, based on an average household usage of 3,000 gallons, seniors would pay approximately $4 less than they currently do.

The discussions underscored the delicate balance the council must maintain between fiscal responsibility and the financial well-being of its constituents, emphasizing the need for transparency in how financial decisions affect everyday citizens.