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Finance director outlines Build O'Fallon Trust Fund origins, reserves and choices for council
Summary
Staff reviewed the Build O'Fallon Trust Fund’s origin, seed funding, annual revenue allocation and the council’s choices about using reserves for large capital projects versus saving for major future works.
Finance Director Sandy Evans and Interim City Administrator Grant Litekin reviewed the history, structure and options for the Build O'Fallon Trust Fund during the Committee of the Whole meeting on Sept. 29.
Why it matters: the fund was created to provide stable capital funding for parks and other large projects while reducing reliance on property tax; council direction will determine whether the city spends annually or saves toward larger, multi-million-dollar projects.
Evans said the fund began in 2021 and became effective in July 2022 with a $4 million seed transfer from the general fund. She told the…
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