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Frostburg staff propose midyear budget amendments; finance director urges new $1–$2 million water-surcharge reserve target
Summary
City staff presented proposed midyear budget amendments that shift projects, adjust insurance and pension lines, and recommended changing the water surcharge fund policy from a percentage-based target to a $1–$2 million dollar-range reserve to cover potential major repairs.
City staff presented a midyear budget amendment package and recommended changing the water-surcharge fund’s target balance to a fixed dollar range of $1 million to $2 million rather than the current 30–50% of operating expenses.
The finance director told commissioners that insurance premiums rose after building appraisals increased values and that sewer projects (notably combined sewer overflow, CSO, work) have shifted timelines,…
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