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Lake City, SC, cut 21 jobs, raised water rates, and took a loan to fix a $2M budget gap amid cash flow crisis.
Lake City, South Carolina, approved a $10.7 million budget on October 14, 2025, to address a $2 million shortfall, cutting 21 city jobs, raising water rates, and securing a $600,000 loan from Florence County at 5% interest.
The plan includes charging for all water usage in 1,000-gallon increments, increasing the average 5,000-gallon bill from $21 to $31, selling 13 city vehicles, and ending outside donations.
The city, facing a cash flow crisis and no reserves, appointed Malik Whitacker as permanent city administrator starting October 16.
Officials hope the measures stabilize finances by early 2026.
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Lake City, SC, recortó 21 empleos, aumentó las tarifas del agua, y tomó un préstamo para arreglar una brecha presupuestaria de $2 millones en medio de una crisis de flujo de efectivo.