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Council approves restricted reserve within wastewater enterprise to meet state loan requirement
Summary
Council unanimously approved creating a $811,000 restricted reserve in the wastewater enterprise fund to comply with a State Water Resources Control Board loan agreement; staff said the move has no net fiscal impact on citywide funds.
The Brawley City Council on March 4 unanimously approved establishing a restricted reserve in the wastewater enterprise fund to satisfy a California State Water Resources Control Board loan requirement.
Finance Director Sylvia Luna explained the city entered the Clean Water State Revolving Fund loan in February 2008 for wastewater treatment plant improvements and subsequently received $10 million in loan forgiveness, leaving an outstanding…
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