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LaSalle finance committee reviews draft appropriations; general fund reserve shortfall highlighted
Summary
Finance director John Duncan presented a draft appropriations ordinance, warning the general fund lacks recommended reserves, some funds are temporarily negative, and certain revenues (notably TIF and replacement-tax details) remain incomplete ahead of a July final vote.
Finance Director John Duncan told the LaSalle Finance Committee on Monday that the city's appropriations ordinance remains a draft because several revenues are still pending and some funds show shortfalls.
"Just tonight is, a night where we're going to go through the, a draft review of the appropriations ordinance. This is in draft form," Duncan said as he opened the committee review.
Duncan said the city's combined cash balance was about $15,173,796.22 and that the general fund carried $924,938.30. He recommended the city hold six months of operating reserves (roughly $5 million to $6 million for the general fund) but said the city is well short of that…
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