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Board reclassifies November storm clean-up costs to operations, de-obligates two capital amounts
Summary
The Sudden Valley board voted to move approximately $480,000 in storm cleanup costs from capital project ledgers back to operations and to reimburse capital funds, an action staff said aligns capital budgets with actual expenditures from the November event.
The Sudden Valley Community Association board voted to de-obligate previously authorized capital amounts and to reclassify November 2024 storm cleanup costs to the operating fund, acknowledging that actual expenses needed to be reflected in operating results.
The motion, read into the record by staff, de-obligated $228,131 from the roads capital GL 8004 (Rhodes fund) and $251,424 from capital GL 8003 (CERF). Staff said those numbers reflect project…
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