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Centerville council repeals ordinance holding fund-balance policy, adopts updated policy by resolution
Summary
On Jan. 27 the Centerville City Council repealed a 2020 fund-balance ordinance and, on the meeting’s consent agenda, adopted a revised fund-balance policy that moves some targets from percentage-based calculations to fixed dollar amounts and adds a golf course capital improvement fund.
The Centerville City Council on Jan. 27 voted to repeal the city's 2020 fund-balance ordinance (Ordinance 20-20) and adopted an updated fund-balance policy by resolution on the consent agenda.
City staff said the change is intended to consolidate policy language and make capital fund targets more predictable. "So the ordinance in front of you is repealing the current fund balance policy that we adopted back in 2020," Assistant City Manager and Finance Director Tyler Rourke told council during the public hearing portion of the meeting. He later described the policy changes as not major in substance but intended to improve budgeting.
The new policy adds a golf course capital improvement fund created in the 2023 budget and restructures how…
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