Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance committee reviews restricted funds: 7¢/4¢ gas tax, E-911 contract and court accounts
Summary
Homewood City finance committee heard staff explain restrictions on several special funds, confirmed a $90,000 state grant for 911 recorder equipment, and discussed court-related accounts and accounting system mismatches ahead of the Oct. 1 budget effective date.
Homewood City’s finance committee met in a special call Sept. 24 to review smaller restricted funds that sit outside department budgets, detailing how those accounts may be spent and noting several upcoming changes.
City Manager Glenn Adams said the 7¢ gas-tax and the 4¢/5¢ gas-tax funds are state-awarded, must remain separate from the general fund and are intended to “zero out every single year” by spending down for capital projects. He told the committee that roughly 70% of the 7¢ gas-tax receipts are used for traffic-related items such as traffic signs, striping and signal upgrades and that the city expects to fund additional asphalt work using a mix of those gas-tax balances and Rebuild…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
