MIAMI, Okla. — Inflation may have an impact on the City of Miami’s budget for the 2022-2023 fiscal year. The price of goods and services has greatly increased this past year, and city officials are now in the preliminary stages of budget planning. The fiscal year runs from July 1st to June 30th annually.
Miami City Manager Bo Reese says the city leaders are taking steps now to plan for any rising costs or unexpected expenses.
“This year there’s alot of anomalies that are hard to predict and so you kinda have to again be fiscally responsible and kinda budget worst case. And so we can look at what gas prices were last year, we can look at what they are now, and then we can try to do our best to project what’s the worst case they could become,” said Reese.
Miami City officials plan to have a complete and balanced multi-million dollar budget in front of the council for approval by the end of June.