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Council approves $3.065 million transfer from general fund reserves to capital replacement fund
Summary
Council approved a one‑time transfer of $3,065,000 from excess general fund reserves to the capital replacement fund to cover planned equipment purchases through fiscal 2025–2030 and to set aside a $500,000 emergency reserve; $392,000 is requested for current fiscal‑year purchases including body cameras and EMS equipment
April (staff member) told the council the town's unassigned general fund balance stood at 87% of operating expenditures at the end of fiscal 2024, well above the town's 30–50% policy target with a preferred 45% target. She proposed a one‑time transfer of $3,065,000 to the capital equipment replacement fund to pay for planned replacements spanning fiscal years 2025 through…
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