To fully grasp how bad Kalispell’s finances are, look no further than its cash reserves compared to Whitefish’s.
From Dan Testa’s story last month (my emphasis):
Kalispell’s city council received an update on the city budget Tuesday night and the numbers were, unsurprisingly, grim. In November, City Finance Director Amy Robertson anticipated a cash reserve at the end of the current fiscal year, June 30, of $258,788. In a Jan. 20 memo to city council, Robertson revised that estimate downward to $171,700, but emphasized that these numbers were her “worst case scenario.” By most estimates, a city of Kalispell’s size should have a cash reserve of somewhere between $1 million and $1.5 million.
From Myers Reece’s story this week (again, my emphasis):
Stearns points to the city’s flush cash reserves. Whitefish’s budgeted reserves are $8.2 million, compared to city’s overall budget authority – including transfers – of $29.1 million. That means the reserves are equivalent to nearly 30 percent of the total budget, which in Stearns’ financial experience is robust.
Montana Census’ 2007 Population Estimates
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