The budget submitted by the Grafton Finance Committee is nearly $500,000 in the red, so the committee will call a special meeting next week to try and balance the books. While there is enough in reserves the city could borrow to balance the budget, the mayor points out that money will eventually run out.
Tom Thompson tells The Big Z that's why he's tried to attract more business to town during his time in city government.
Click here for Thompson's comments
The Grafton Finance Committee, which is made up of the city's six aldermen, will meet August 2 at 7pm at the Grafton City Hall.