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Finance staff proposes $1.3M general-fund transfer to cover sewer-fund shortfall; warns of additional rate pressure
Summary
City finance staff told the Sierra Vista City Council the city expects an estimated $1.3 million general-fund surplus for FY2024 and recommended transferring excess to the sewer enterprise to cover a forgiven Castle & Cooke note and to address sewer-fund cash-flow shortfalls.
City finance staff told the Sierra Vista City Council the city expects an estimated $1.3 million general-fund surplus for fiscal year 2024 and recommended transferring available excess to the sewer enterprise to cover obligations created by council action on the golf-course acquisition and by large sewer repairs.
"As we discussed in the acquisition of the golf course, ironically, that we were going to forgive the note for…
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