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Posted on Mon, Oct 10, 2011 : 10:04 a.m.

Ypsilanti holding financial goal-setting meeting Tuesday

By Staff

The Ypsilanti City Council and city staff will meet Tuesday for the third and final meeting in a series devoted to financial goal-setting.

This meeting will feature a discussion of expenditure and revenue options and selection of a long-term financial policy that will eliminate the projected deficit.

The city also held meetings Aug. 23 and Sept. 27 on the financial status of Ypsilanti. has previously reported that if nothing changes, Ypsilanti’s $9 million in reserves will be wiped by fiscal year 2015 and the city will face a $5.9 million budget shortfall by 2017.

Residents are welcome to attend the meeting. The informational packet can be downloaded here.

The City Council will determine a course of action to face falling property tax revenues and continuing Water Street debt payments at this meeting. The discussion will include spending cuts and tax increases in order to keep the city sustainable, according to a news release.