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Finance Committee moves to file resolution asking mayor to set aside 0.5% of budget as council strategic contingency ($9.42 million)
Summary
The committee directed staff to file a resolution requesting the mayor include 0.5% of the budget—calculated at $9,416,621—in a council strategic initiatives contingency account; members discussed guardrails but agreed to file the resolution now and consider guardrails during the budget process.
The Finance Committee on Jan. 7 instructed staff to file a draft resolution requesting the mayor place 0.5% of the fiscal‑year 2025–26 budget into a council strategic initiatives contingency account, an amount the administration calculated as $9,416,621.
Mary Stifopoulos (Office of General Counsel) reviewed a draft resolution and a handout prepared with Auditor Kim Taylor that framed possible guardrails for the contingency account: examples included setting minimum/maximum allocations, limiting…
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