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Council told city can fund emergency water and sewer work from reserves; TMRS COLA and ambulance coalition costs flagged
Summary
City finance staff reported approximately $12 million in unrestricted funds and said using reserves can fund ground storage and the urgent sewer rehab without issuing debt while maintaining a six‑month operating reserve. Staff also warned the council about an imminent TMRS COLA decision and potential ambulance coalition cost increases.
Finance staff told the council the city held roughly $12 million in unrestricted funds and intends to maintain a six‑month reserve (quoted at about $4 million). Staff said using reserves will be the preferred funding source for near‑term projects discussed in the work session — notably the recommended 1.5 million‑gallon ground storage (estimated at $4 million) and the Milton Street sewer rehab (budgeted $700,000, with value‑engineered cost estimates…
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