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CFO details $14M–$18M fiscal transfers, subsidies for FY25; River’s Edge and River Center subsidies shrink but remain
Summary
Davenport’s CFO presented required FY25 interfund transfers under state rules, including large transfers from sales-tax and ARPA-derived capital transfers; staff outlined subsidies to River’s Edge and River Center and steps to reduce future subsidies.
Davenport — Lasha Gerlach, the city’s chief financial officer, detailed required interfund transfers for fiscal year 2025 at the Oct. 15 committee-of-the-whole meeting and explained subsidies and capital transfers the city recorded in FY25.
Gerlach summarized both routine and one-time transfers. She said, “The state requires approval when transferring money between funds,” and then outlined major movements: $14,000,000 transferred from local-option sales tax to the…
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