With costs rising in nearly every corner of the economy, local city leaders have to tighten their budgets.

  Earlier this week, the Miami City Council approved the 2008-2009 budget.

  Interim City Manager Tim Wilson says the city is financially sound but with costs on the rise the budget has to be kept in check.

  Wilson says the recent flooding and ice storm has also caused a budget strain.

   City officials have formulated a cost savings reduction plan for the upcoming fiscal year.

   It includes a new four day work week for city employees and not replacing city employees who leave.