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Council adopts resolution defining general fund committed balances; finance report distributed
Summary
Council voted to approve Resolution 25-2006 identifying categories for the city’s general fund committed balances; the finance director also distributed a quarterly investment report and the city attorney reported charter amendment ballot language approval and incoming opioid settlement proceeds.
Eastpointe’s council unanimously approved Resolution 25‑2006, which identifies categories to be included in the general fund’s committed fund balances. The motion passed on a roll call vote with all present members supporting adoption.
In related fiscal business, Finance Director Blom told council members he had distributed a quarterly (fourth‑quarter/full‑year) investment report and that the city had earned well on investments amid higher interest rates. He asked councilmembers to review the report and to raise any questions.
City Attorney Albright reported the governor’s office had approved proposed ballot language for a charter amendment, clearing that language to appear on the November ballot. He also told council the city had received notice of an additional opioid settlement matter involving Purdue; he said staff would complete necessary paperwork in the coming weeks and that the city should receive additional settlement proceeds.
The resolution approved at the meeting addresses internal accounting categories for committed fund balances; the action did not change tax rates or adopt new spending. Council did not take further fiscal actions beyond approving the resolution and acknowledging the reports.
