Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council reviews finance report; council assigns $4.5 million for ongoing capital projects
Summary
City finance staff reported a midyear revenue shortfall and proposed assigning roughly $4.5 million from unassigned fund balance to ongoing capital projects including a TAP grant, armory renovations and a community center project; council approved the assignments.
City finance staff told the Clinton City Council that the city faces a midyear revenue shortfall and that the council should assign a portion of the unassigned fund balance to ongoing capital projects.
The finance report, presented to the council in packet materials and summarized at the meeting, said the city was about $2.3 million short of projected revenues; staff attributed roughly $2.2 million of that gap to timing and expected reimbursements tied to the JC pool grant and the TAP grant. The report showed approximately $1.6 million in capital outlay overages for ongoing projects and said June expenditures exceeded…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
