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University Park council approves ordinance to boost water and sewer capital funding
Summary
The City Council approved Ordinance No. 205-568 to transfer funds into the water and sewer capital project fund to sustain the city's "mile-per-year" sewer and water replacement program. Finance staff said the program was underfunded by about $2 million annually and outlined a phased approach using transfers and short-term reserves.
University Park ' The City Council on April 1 approved Ordinance No. 205-568 authorizing transfers to the water and sewer capital project fund to shore up the city's ongoing "mile-per-year" sewer and water replacement program.
Tom Tabarczyk, the city's director of finance, told the council the city currently transfers about $4 million a year from operating funds into the utility capital fund but the mile-per-year program costs roughly $6.5 million a year. "We were about $2,000,000 chronically short," Tabarczyk said.
Tabarczyk said the ordinance authorizes a $1 million transfer from both the…
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