By: News Director Larissa Donovan
BEMIDJI– The city of Bemidji’s finances appear to be in good shape.
According to a financial summary created by City Finance Director Ron Eischens, the city continues to have an A1 bond rating, with Moody’s commenting that Bemidji has a strong financial profile.
This strong profile, according to Eischens, is due to the city’s reserve levels, being a regional economic center and modest tax base.
Some challenges faced by the city include above average unemployment in the city and low resident income.
Other challenges include the heavy burden on property tax payers without a hospitality tax in place, which Eischens said would capture dollars from visitors and help lower property taxes.
The city has an other financial issue in the future with its water issues, but they are currently seeking state and other funding to address and treat the PFAs in the water supply as well as expand the waste water treatment facility.
