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Dallas CFO proposes policy to split large property-sale proceeds between maintenance and police‑fire pension
Summary
The city's chief financial officer proposed a policy to continue prioritizing major maintenance from proceeds of city real estate sales while directing a portion of larger transactions toward the Dallas Police and Fire Pension System; the committee discussed thresholds, enterprise‑fund limits and return-to-council rules.
Jack Ireland, the City of Dallas chief financial officer, presented a policy discussion to the Government Performance and Financial Management Committee on June 10 proposing how proceeds from sales of city-owned real estate should be used.
Ireland said the city deposits proceeds from surplus property sales and abandonments into the General Capital Reserve (GCR), a fund created by council resolution in 1977 and historically used “for capital improvements” and, in practice, major maintenance projects. He recommended continuing to prioritize major maintenance but setting thresholds for sharing proceeds with the Dallas Police and Fire Pension…
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