The City of Elkhart's Annual Budget outlines both income and expenditures that are expected to be received and paid over the coming year. This budget helps to plan for the upcoming year and makes the necessary adjustments in cash flow to cover expenses. The City of Elkhart's Annual Budget is a vital instrument in accurately projecting future cash flow and effectively managing incoming revenue and existing debt.
For the upcoming 2019-2020 Fiscal Year, the City will begin major infrastructure renovations in an effort to bring our aged infrastructure to current standards, improving water quality for all residents and businesses. On August 26, 2019, the City signed Ordinance O-08262019-1, authorizing the issuance of Certificates of Obligation to pay for this major project. The City will pay the obligation back over a period of 15 years, with annual installments of approximately $170,000 being made from the sinking fund established under Ordinance O-08262019-1.