Finance Committee Keeps Current Model for Allocating Investment Interest to Operating Funds
Staff explained the city’s method of allocating interest earnings to operating funds (not capital), citing GASB reporting and liquidity risk; committee voted to accept staff’s recommendation to maintain the current allocation model.
The full story
The Tracy finance committee on Oct. 22 heard an informational presentation on how interest earned on city cash and investments is allocated and voted to maintain the city’s current allocation model, which assigns interest to operating funds rather than directly to capital funds.
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