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Oxnard council adopts allocation of last year—s surplus, splits vote on street maintenance fee
Summary
City Council approved staff recommendations on how to apply an approximately $35 million general-fund surplus, moved cash to cover higher liability claims and separated a contested infrastructure use fee item for a separate vote, which passed 6-1.
The Oxnard City Council on Wednesday approved a set of budget allocations tied to an approximately $35 million general-fund surplus and moved additional cash to cover large liability claims, while splitting out two infrastructure-fee items for a separate vote.
City staff told council members the fiscal-year surplus allowed the city to accelerate its reserve policy and make a one-time payment toward long-term pension liabilities. "The first is to accelerate the building the operating reserves," said Javier, a finance staff member, adding the surplus would let…
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