April 18th, 2025 by WCBC Radio

Mark Gandolfi, the Comptroller for the City of Cumberland, gave an initial budget presentation during the Mayor and Council work session this week. For Fiscal Year 2026, the city is looking at a $32.7 million dollar budget with roughly $29.5 million in expenses. Gandolfi spoke of budget surpluses for the next two years…

   

“Fiscal 25 – that’s the year that we’re in that will go through June 30 – we had budgeted a $212,000 unassigned fund surplus. We are currently trending at a $603,000 unassigned surplus which means we are in great shape. That means we are heading in the right direction.”

Mayor Ray Morriss echoed the positive financial footing for the city, based on its bond rating…

   

“You look at our budget and fortunately, fortunately, we are in pretty good shape. As we talked about how we had gone from an A+ to a AA-, understand that the more A’s you have, the better.”