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Council authorizes $311,000 retroactive electric-fund transfer to balance general fund
Summary
To help balance the general fund budget, council authorized a retroactive increase in the fiscal 2025 electric-fund transfer of $311,000 to be carried forward into FY26.
The Milford City Council authorized a retroactive increase of $311,000 in the fiscal 2025 electric‑fund transfer to the general fund, to be carried forward into fiscal year 2026 to support general fund operations.
Finance director Lou told the council the additional transfer brings the electric fund transfer up to the 12.5% maximum and will generate funds available to balance the general fund budget. Council approved the retroactive transfer on a motion and voice vote.
Why it matters: The transfer is an internal fund movement to stabilize general‑fund operations and is separate from policy decisions affecting salaries or capital projects. Finance staff framed it as a standard tool to address short‑term operating needs while maintaining utility fund health.
Details and next steps: The transfer is retroactive to FY25 and will be carried forward into FY26. Finance said the step was one of the recommended balancing measures presented during budget development and is unrelated to the police pay‑study debate that occupied later portions of the meeting.
