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Fountain Hills council moves $4.7 million of excess reserves into capital, streets and facilities funds
Summary
Council approved staff's recommended transfers of $4.7 million in excess general-fund reserves into the capital projects, streets and facilities reserve funds to align balances with council priorities.
The Fountain Hills Town Council unanimously approved staff's recommendation to transfer $4.7 million of excess general-fund reserves into the town's capital projects, streets and facilities reserve funds.
Paul, a town finance staff member, told council that the town closed fiscal year 2025 with general fund revenues above projections and expenditures below budget, producing a positive variance that left about $4.7 million in excess reserves after the council-mandated minimum fund…
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