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Utica transfers $1.5 million into committed capital improvements fund, council calls it a milestone
2571842 · March 12, 2025
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Summary
Following a review of fund balances, council directed the finance director to move $1.5 million from the general fund unassigned balance into a newly committed fund balance earmarked for capital improvements, leaving the general fund at roughly 40% of operating expenditures.
Utica City Council on Tuesday voted to move $1.5 million from the general fund unassigned balance into a committed fund balance for capital improvements, fulfilling a policy the council adopted in November 2023 calling for a 40% unassigned fund balance target.
Finance Director (Mr. Paternoster) told…
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