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Otter Lake Closes Out Accounts for Next Budget
Mary Drier/Mike Kaufman
Fri, 13 Mar 2026 02:12:17 EDT
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In preparation to adopt the proposed 2026-2027 budget, the Otter Lake Village Council approved several funding transfers during this month's meeting.
The transfers, which are routine, were necessary to balance accounts so the 2025 budget could be closed out before the next fiscal year starts.
With that done, the council adopted the 2026-2027 budget and set the proposed millage levies at the highest allowed under the that will support the budget.
The millage rates are estimates because the funding won't be known until June when the assessor is done.
"We anticipate a small decrease this year from last year's rates. The operational millage was 9.96580 which was a decrease of 0.0015 from the year before, and the street millage was 1.49860 mills which was a decrease of 0.0014 from the year before," explained Clerk Terry Gill.
During the meeting, Gill also noted the village received a revised estimate of the 2026 State Revenue Sharing for streets, which is lower than the earlier estimate that was received in October 2025.
