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City controller asks council to authorize rollover of 2024 interfund loans amid audit findings
Summary
City Controller Salita Green told the Gary City Finance Committee that the administration is asking the Council to amend CPO 2025-12 to authorize the rollover of temporary interfund loans due between City of Gary funds for 2024.
City Controller Salita Green told the Gary City Finance Committee that the administration is asking the Council to amend CPO 2025-12 to authorize the rollover of temporary interfund loans due between City of Gary funds for 2024.
“This was submitted in November, and we have since paid off additional loans,” Salita Green said, describing a schedule the administration provided that shows which loans were repaid and which balances remain.
The amendment would formally roll over loans that are not repaid within 18 months, Green said, a step she described as addressing a record-keeping requirement that has led to audit findings. “It does not. It assists us in the requirement, which is that any loans that are not paid off in…
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