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Council considers resolution prioritizing repayment of internal loan and directing reserve-policy review
Summary
A proposed resolution would direct the city to prioritize repayment of an internal loan and to update reserve-policy language during the 2026 mid-biennium modifications so repayment and reserve replenishment are reconciled.
Councilmember Vivian introduced a proposed resolution on Oct. 21 asking the council to state its intent to prioritize repayment of a recently issued internal loan and to direct administration to address reserve-policy language during the 2026 mid-biennium modifications.
The problem addressed: The city's existing fund-balance and reserve-replenishment schedule does not explicitly account for the need to concurrently repay an internal loan. Vivian said the resolution would not…
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