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Board adopts updated fund-balance policy; aldermen flag long-term payout liabilities
Summary
The board unanimously approved Resolution 2025-34 to revise the city’s fund balance and reserve policy in line with comptroller recommendations; discussion highlighted nearly $3 million in combined sick and vacation liabilities and a suggestion to consider a reserve for future retiree payouts.
The Board of Mayor and Aldermen unanimously approved Resolution 2025-34 Oct. 14 to revise the city’s fund-balance and reserve policy following recommendations from the state comptroller’s office.
Staff told the board the policy aligns other city funds with a 16.67% available fund-balance recommendation — roughly two months of operating expenses — and that funds currently not meeting the…
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