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Council questions interfund loans for tertiary plant and arena; staff to seek auditor opinion
Summary
Councilors and members of the public pressed staff to reconcile interfund loan balances that link the tertiary treatment plant, the arena and general fund. Staff said some transfers are "paper" items and will ask the auditor whether past general fund payments should be treated as loan repayments or written off.
City councilors raised questions Thursday about interfund loan balances connecting the tertiary treatment plant, the horse arena and the general fund, seeking clarification about whether past payments should reduce outstanding loan tallies.
During the workshop, finance staff member Andrea described several interfund loans and said the accounts are confusing because some funds were used to pay others and some charges were only recorded on paper. She said: "If the general fund owes…
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