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Council approves year‑end budget transfers after debate over unspent bond proceeds
Summary
After a contentious amendment and a financial briefing, the council approved a package of year‑end transfers using investment earnings and program balances; a $3.6 million transfer of unspent 2021 CO proceeds to debt service was removed for further review.
El Paso City Council approved a bundle of year‑end budget transfers Wednesday that reallocated investment earnings and program balances to address capital shortfalls and operational needs, but only after a heated debate and an amendment that removed a proposed $3.6 million transfer of unspent 2021 bond proceeds.
City finance staff presented a package that used $9.9 million of investment interest generated from ARPA and internal capital investments to replenish several funds and cover obligations. The transfers included replenishing the ballpark capital repair fund, adding one‑time support to Animal Services operations, funding economic development reimbursement requests, and adding limited funding for information technology and facilities repairs.
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