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Council approves paying $350,000 for sewer-inspection camera from sewer fund cash
Summary
After audit adjustments revealed available cash, council approved paying $350,000 cash from the sewer fund (less a $75,000 deposit already paid) for a sewer lateral camera rather than issuing a GO bond; council asked staff for written confirmation and fund balances before the next council meeting.
Councilors discussed whether to finance a $350,000 sewer-inspection camera with a revenue bond or pay cash from the sewer fund after an audit reconciliation changed the apparent fund balances. Finance staff said audit adjusting entries completed in August showed that expenses previously miscoded to the sewer fund had been corrected on paper and that the project fund held the original project receipts, leaving the sewer fund with surplus cash.
"The report from September shows that we have an excess of 2,000,000 in cash in the sewer fund," Councilor Paulson said during the discussion; Finance Director Bothwell and City Administrator Gritzy Benes explained the revision stemmed from coding and audit adjustments. Outside contractor Matt Reid told council that having the camera in place would allow the city to scope underground defects and better target repairs, saving future expense.
Councilor Freely moved to pay for the camera from the sewer fund; the motion was seconded and amended to require staff provide written follow-up confirmation and a sewer-fund balance report before the next council meeting. The council approved the amended motion in a roll call (motion carries 5-1; one member absent). Staff said a $75,000 deposit had already been paid and that the purchase would proceed with cash rather than bonding.
