The Haverhill City Council is set to vote Tuesday on a $159.8 million city budget for fiscal year 2015. Highlights of the city’s spending plan for the next year beginning July 1 includes $1 million set aside as free cash, putting $400,000 into a city stabilization fund and $200,000 into a school stabilization fund.
More than $15.2 million of the budget will operate the self-sustaining water and wastewater departments and they are expected to generate more than $769,000 in net receipts to go into the city’s general fund. The city budget would also be funded by some $158 million in taxation and other receipts.