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Council adds $50,000 to children's savings account fund; total now about $200,000
Summary
Council approved an appropriation adding $50,000 to the city's Children's Savings Account program, bringing the fund to approximately $200,000; council asked administration to provide the program's annual cost.
The council voted to authorize a grant and appropriation that adds $50,000 to the city's Children's Savings Account fund, raising the fund to about $200,000 in total.
Councilor Lupien asked whether a bank had been selected to hold program accounts; the administration said a bank has not yet been chosen. Council members also asked for the annual cost to run the program; the administration agreed to provide that figure in writing.
The motion to appropriate the funds was moved and seconded in committee and carried without recorded opposition. Officials said they will report back to council with the program's recurring cost and finalize bank selection as next steps.
