Council hears details: reserves, retirement contributions and CIP unchanged
In the finance director's review of the final budget, staff said reserves and appropriated fund balance decreased from the prior year and retirement contributions rose markedly because a prior credit is no longer available; the CIP showed no changes from the first public meeting.
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During the finance director's presentation, staff walked the council through budgetary shifts behind the headline totals. The finance director said the appropriated fund balance proposed for use declined (from $17,197,000 to $13,097,000) and that reserves were $21,246,300 in the proposed budget; staff described the budget as balanced.
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