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Morris City Council authorizes $400,000 transfer from general fund to capital projects
Summary
Council approved a resolution to transfer $400,000 from the city's general operating fund to the capital projects fund for 2024, with staff saying the transfer keeps the city above its 35% operating reserve policy.
The Morris City Council on Feb. 11 approved a resolution authorizing a $400,000 transfer from the city’s general fund to the capital projects fund, effective Dec. 31, 2024. The measure passed on a roll-call vote.
Finance Director Whitney Millard said the transfer was possible after a stronger-than-expected year for several revenue lines. "We were able to comfortably suggest transferring $400,000 out of our general fund to the capital" because the city remains above its adopted 35% general operating fund reserve, Millard said.
Millard told…
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