There’s good news for the city of Iron Mountain.

The city’s latest audit shows a substantial increase in the city’s general fund balance. Three years, it had a balance of $120,000. Today, it stands at more than $1.2 million.

“It’s responsible, it’s good fiscal management, and the city has for the last three years been moving in that direction,” says Mayor Ken Tousignant.

But officials warn that the general fund balance doesn’t mean Iron Mountain has more money to spend. It’s just there as security, in case it should be needed.

The city was able to increase the fund by cutting the number of city employees and using computers and other technology in their place.