The City of Racine spent more than 30% of the taxes collected in 2016 to address debt---according to a new analysis that also indicates the city’s finances are “well managed,” and the community is “far from facing immediate fiscal crisis.”
During an Executive Committee meeting of the Racine Council, Wisconsin Policy Forum President Rob Henken noted that---in the long term---the city’s financial picture needs to be monitored because of the challenges Racine faces---BUT---in general---Racine is doing quite well right now.
Years ago, city leadership decided to address employee retirement mandates---which Henken said joins long term debt as two key concerns for Racine going forward, aside from revenue growth.
Henken also said the impact of Foxconn will certainly play into the city's financial picture---presenting opportunities. Henken said the Foxconn impact will offer positives as well as negatives---including increased demand on city services...like in other affected communities.
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From our news partners at WRJN.