The City of Sylvania is ready for 2021 and is looking forward to the challenges of the coming year. The books have been closed for 2020 and the 2021 Budget has been approved.
The books for 2020 were closed without any additional allocations in the major funds. A final adjusting ordinance was approved by City Council on December 21st and required only balancing of funds within the 2021 Budget and no overall changes. A second ordinance transferred funds to the Capital Improvements Fund.
Sylvania City Council unanimously approved the 2021 Operating and Capital Improvement Budgets during their November 2nd meeting after review and recommendation of the Finance Committee. The Operating Budget is balanced with current revenues, as is the Capital Improvement Budget.
Income tax revenue has grown slowly and steadily over previous years, except for 2020 due to the COVID-19 pandemic. Support from the federal government, as part of the COVID-19 relief bill earlier in 2020, helped make up the shortfall in tax receipts.
City operations continue to be more efficient with fewer employees than ten years ago. Overtime has been reduced, equipment life extended and budgets lowered. City services have not been curtailed and tax rates have not been raised.
Challenges remain for 2021 as the City must navigate its way through the remaining pandemic. While our workforce has fared mostly well so far and remained on the job, we must remain vigilant in our responses. City buildings will remain locked to the public, except by appointment, until the pandemic comes under control.
Looking forward to 2021, the SOMO Flats are expected to open in two phases of 2021, bringing 206 new luxury apartments to downtown Sylvania. City Council will be finishing its economic development study to guide continued improvements in our downtown area and providing more jobs for our residents.
Our residential areas remain very desirable to buyers. Homes on the market are selling faster than previous years as families look to improve their quality of life while staying at home.
Like all of you, I look forward to putting this COVID-19 pandemic behind us and returning life to normal. I encourage all of you to continue your pandemic protocols, and to get one of the vaccines when they are available to you.
Sylvania remains a great place to be in 2021. Best wishes for a safe and Happy New Year ahead!
SOMO Flats are expected to open in two phases of 2021