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Council hears recommendation to transfer general‑fund surplus to cover forgiven sewer note; staff warns sewer fund cash shortfall persists
Summary
Staff recommended transferring fiscal‑year 2024 excess general‑fund balance to the sewer fund to cover a note forgiven after the city acquired the golf course; officials said the sewer fund still faces cash‑flow problems and that a rate increase will likely remain necessary.
Finance staff and Mr. Felix briefed the council that as part of closing fiscal‑year 2024 the city has an estimated $1,300,000 general‑fund surplus and that staff recommend transferring part of that surplus to the sewer fund to cover the payoff of a note forgiven earlier when council approved acquisition of the golf course.
Felix said the outstanding balance on the Castle and Cooke note was $609,000 after the July payment and that council previously agreed to forgive that balance in connection with accepting the golf course. Staff recommended transferring general‑fund money to make the…
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