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Budget staff seek $6.14 million in free-cash transfers to shore up reserves and cover deficits
Summary
Finance staff asked the committee to forward a $6,137,126 package of transfers from free cash to reserves and deficit accounts, including OPEB, snow-and-ice, workers' comp and stabilization accounts; the committee approved forwarding to full council.
On July 11 the Lawrence City Budget and Finance Committee voted to forward to the full City Council a package of free-cash transfers totaling $6,137,126 to shore up several reserve accounts and clear deficits.
Finance staff described transfers including a $500,000 deposit to the Other Post Employment Benefits (OPEB) trust to help begin addressing retiree…
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