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Fort Smith board rejects proposed reallocations intended to shore up utilities fund
Summary
After extensive debate and public comment, the Fort Smith Board of Directors voted down two ordinances that would have reallocated costs from enterprise funds to the general fund for 2024 and 2025.
The Fort Smith Board of Directors on March 18 rejected two proposed budget reallocations that would have shifted administrative costs into the general fund to improve the city’s water and sewer debt-service coverage.
Chief Financial Officer Andy Richards told the board the reallocations would add about $2,247,000 to the general fund for 2024 and about $2,499,000 for 2025, and he recommended against the change because it would impose a permanent burden on the general fund. “The general fund is not in a position to take on an additional $2,500,000 a year in these allocations in its current state,” Richards said.
Why this matters: Richards and several board members said the reallocations would…
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