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Council tables proposal to close CIP 02/2007 and transfer balance to equipment fund
Summary
Council discussed closing a dormant CIP fund with a roughly $157,000 balance and voted to table action until staff and auditors provide more reconciliation and options, including possibly leaving the balance unassigned.
The council tabled action on a proposed resolution to close the CIP 02/2007 account and transfer the remaining balance to the equipment fund after extended discussion about reconciliation and timing.
Staff told the council the CIP 02/2007 fund has been dormant since 2023 and has a remaining balance (discussed in the meeting as about $157,000). Finance staff said they are reviewing where fund balances are sitting and will reconcile balances with the auditor. Several council members asked whether the balance should be transferred to the equipment fund (to help pay for a future fire truck) or left unassigned so it can be redeployed if other near-term project shortfalls arise. Staff said they would consult the auditor about leaving the funds unassigned and return with detailed numbers.
Councilmember Sean moved to table the closure and transfer; Councilmember Rick seconded. Council voted to table the item and requested additional reconciliation and guidance from the auditor before taking action.
