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Wausau finance committee agrees to cover $149,349 shortfall in 2024 lead service line project
Summary
The committee voted to use 2024 revenue surplus to cover a $149,349 shortfall in the city's 2024 lead service line replacement project and discussed options for a 2025 general obligation promissory note; staff reported TID 3 may contribute $1 million to reduce borrowing.
The Wausau Finance Committee voted July 8 to cover a $149,349 shortfall from the city—s 2024 lead service line replacement project using the 2024 revenue surplus and reviewed options for a 2025 general obligation promissory note for capital improvements.
The decision followed staff briefings on funding options for a set of capital projects already budgeted. Mary Anne, a city staff member, told the committee, "I am expecting again for the '24 budget that we would have a profit of about $550,000," and said staff could bring an August 12 council resolution to transfer surplus funds to cover the uncovered lead-service-line costs.
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