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Council approves $5.71 million amendment moving FY24 one‑time fund balances into capital funds
Summary
City staff presented and council approved an amendment to the FY25 appropriation ordinance to appropriate $5,710,476 of one‑time, unanticipated FY24 fund balances into capital and related accounts, moving excess operating fund balances into capital funds for future projects and debt obligations.
Moscow City Council on Sept. 2 held a public hearing and approved an amendment to the fiscal year 2025 appropriation ordinance to appropriate $5,710,476 in unanticipated FY24 fund balances into capital funds and related expense lines.
Finance Director Sarah Decker told council the amendment consolidates a set of one‑time balances that resulted from under‑expenditures and timing differences across several city funds. Decker outlined the principal changes: a FY24 general fund balance of $726,888 that includes personnel savings arising from vacant police positions; a streets fund balance of about $468,006 largely tied to state disbursements; a Recreation and Culture reserve of about $201,026 to backfill one percent public art moved to capital projects; water, sewer and sanitation fund balances (about $915,484, $1,279,769 and $1,125,403 respectively) to be moved to their capital funds; and an Information Systems internal service fund return of $1,393,950 to contributing capital funds after a review of equipment needs.
Decker said the appropriations are routine accounting practice to move one‑time monies from operating funds into capital funds where they will be available for future capital projects, equipment and debt. She noted that information systems is an internal service fund funded by other city funds and that the IS excess accumulation will be distributed back to corresponding capital funds including general government capital, recreation and culture capital, streets capital, water, sewer, storm, sanitation and the fleet fund.
During the hearing, council members asked clarifying questions about the accounting mechanism and timing. A council member reiterated that the transfers are a transparent method to allocate accumulated operating surpluses into capital budgets rather than retaining large fund balances in operating accounts.
After the hearing the council voted to suspend the three‑reading rule, read the ordinance by title and approved the amendment. The ordinance amends Ordinance No. 2024‑12 and appropriates $5,710,476 for the stated purposes; the council took the action at the Sept. 2 meeting following the public hearing.
