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Lacey council debates reserve designations; staff to bring ordinance Dec. 16 after minor allocation swap
Summary
Finance staff reviewed city cash balances and proposed how to commit roughly $11.4 million of available cash into categories such as budget-policy reserves, capital asset preservation and an economic development investment reserve; council agreed to shift $500,000 from economic development to capital maintenance and asked for final numbers after year‑end close.
City financial staff presented a multi-fund review of cash balances and a staff proposal for committed reserves at the Dec. 9 work session, offering council direction ahead of an ordinance planned for Dec. 16.
Acting Financial Services Manager Chelsea Knight began with a snapshot of cash balances as of Dec. 31, 2024, and explained the staff process: remove restricted reserves and policy-driven operating cushions, then identify…
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