Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance And Personnel topic
No spam. Unsubscribe anytime.
Council approves memorandum to fund shared grant-writer position; moves year-end funds into capital and other accounts
Summary
The Common Council approved a memorandum of intent with the London Area Chamber of Commerce and the School District to fund a grant-writer position, and authorized year-end fund transfers including $325,000 to capital, $100,000 to health insurance and $50,000 to economic development.
The Common Council on Feb. 11 approved a memorandum of intent among the City of New London, the London Area Chamber of Commerce and the School District to hire a grant writer who will be employed by the chamber and supported by contributions from the three entities.
The Finance & Personnel Committee presented the MOI and said the purpose is to establish a collaborative position that will support grant-seeking efforts benefiting all three partners. The council approved the recommendation unanimously (8-0).
At the same meeting the council approved financial year-end actions presented by the finance director. The council authorized moving an additional $325,000 to the capital fund, $100,000 to the health insurance fund and $50,000 to economic development from year-end balances; it also approved a resolution assigning the unassigned fund balance for year-end 2024 and a resolution amending the 2024 budget. The council approved a 2% hiring wage-scale adjustment to keep compensation competitive for hiring and promotion.
The finance director reported that 2024 expenditures were below budget and revenue exceeded budget, allowing these designations; the items were recommended by the finance committee and approved by the council 8-0.
