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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 the council that several revenue items exceeded budget: campground revenue rose after implementing the camp spot at the campground, transit fares produced roughly 20,000 more in revenue than budgeted, and airport fuel sales were significantly higher than the prior year. She also cited stronger-than-expected investment income. "There was just different items in the revenues that were quite a bit higher than what was budgeted for," Millard said.
Council members asked for clarification that the resolution’s effective date was intended to place the transfer in the 2024 calendar year; Millard confirmed the Dec. 31, 2024 date on the resolution was correct. The council moved and seconded the resolution and approved it by roll call.
Votes at a glance from the meeting (voice and roll-call results as recorded orally): agenda approval (voice vote: carried); minutes of Jan. 28, 2025 regular and condensed versions (voice votes: carried); consent agenda including gambling reports and exempt permit applications (voice vote: carried); tourism board marketing recommendation (voice vote: carried); resolution establishing Prairie Harvest Fest as an official city community event (roll call: carried); resolution authorizing fund transfer of $400,000 (roll call: carried). Individual roll-call tallies were recorded verbally at the meeting; the official written minutes should be consulted for the formal roll-call record.
The finance director said that despite the transfer, the city remains above its policy minimum reserve and staff will continue to monitor budget performance as they complete the current audit and budget preparations.
