Two weeks ago it was the Park County Commissioners needing to dip into reserves to fund expenses to make the fiscal budget work.
The Cody City Council was also in the same position.
At the June 18 Cody City Council regular meeting, the council adopted a deficit budget. To make up the deficit, the city expects to tap into reserves for $666,000.
City council member Glenn Nielson voted against a deficit budget saying it’s time to fund “needs” rather than “wants.”
We agree government entities need to be fiscally conservative and live within their means.
However, reserves are in place for a reason. In good times, money is put away. In times of limited revenues, reserves are there to be used.
Reserves don’t need to be stockpiled and never used.
Budgets are a necessity. But it is definitely more important to live within a budget than pass a budget that is unsustainable.
And just because you have the money or the budget doesn’t mean you need to spend it.
There certainly are times when spending is a necessity and rather than not spending, additional revenues need to be found.
A “Saturday Night Live” parody years ago summed up the situation succinctly.
Parodying a commercial for a booklet offering advice to people who were running up credit card debt, the advice contained in the entire booklet consisted of one sentence: “If you don’t have the money, don’t spend it.”