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Council approves tax-levy special revenue and departmental funds; health-insurance fund used to buy down levy
Summary
At the Feb. 13 budget workshop, the Clinton City Council approved a set of tax‑levy special revenue funds, the city’s self‑funded health insurance transfer to reduce the proposed levy, and a package of departmental special‑revenue funds.
At the Feb. 13 budget workshop, the Clinton City Council approved a set of tax‑levy special revenue funds, the city’s self‑funded health insurance fund transfer to reduce the proposed levy, and a package of departmental special‑revenue funds.
Levy buy‑down from self‑funded health insurance reserve
Finance staff explained that the city will use a portion of the self‑funded health insurance fund’s reserves to “buy down” the proposed property‑tax levy for FY 2026. Staff said the self‑funded health plan carried an expected ending balance of about $3.9 million after this year’s projected revenues and expenses; the presentation…
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