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Council discusses earmarking FEMA reimbursement as hurricane contingency fund
Summary
Staff told the council the city received about $477,000 in FEMA reimbursements related to prior storms and estimated roughly $400,000 remaining after expenses; staff proposed earmarking the balance on the balance sheet as a designated contingency for future catastrophic events, subject to council direction.
City staff briefed the council on May 20 about FEMA reimbursements from prior storm events and proposals to earmark a portion of the fund balance as a hurricane contingency.
Rudy explained that the city recorded about $477,000 in FEMA reimbursements and, after reimbursing expenses, had roughly $400,000 available in the fund balance. He said staff had…
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