For the fiscal year that ended Dec. 31, 2021, the City of Carmel had more than $85 million in its fund balances, $69.3 million of which were unencumbered funds, or funds that are unspent and not obligated or committed.
These figures, released Tuesday by Carmel City Controller Ann Bingman, are what city officials call an indication of Carmel’s fiscal strength.
Brainard
“The year 2021 was a challenging one as we navigated the many restrictions and complications of the COVID-19 pandemic,” said Mayor Jim Brainard. “But these numbers, announced [Tuesday] by our City Controller, show that we successfully managed the public’s money as we always have done.”
Brainard continued, “We work very hard to manage the city’s finances prudently. We approach the budget process much like the private sector in that we perform budget forecasting 20 years out to ensure that we can accomplish our goals and keep our tax rate among the lowest in the state.”