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Interim manager: Melbourne Beach has strong reserves, urges setting rainy-day policy and funding CIP
Summary
Interim Town Manager Lisa Fraser told commissioners the town holds roughly $6 million in unassigned funds and recommended setting a formal rainy-day reserve, investing in staff pay and using remaining reserves to begin a capital improvement plan while pursuing alternative revenues such as stormwater and fire assessments.
Interim Town Manager Lisa Fraser told the Melbourne Beach Town Commission on Jan. 9 that the town is in strong fiscal position but needs policy decisions now to guide next year—s budget.
"We have over $6,000,000 in unencumbered funds," Fraser said during a budget overview, and recommended setting aside a multi-month rainy-day reserve aligned with Government Finance Officers Association and ICMA guidance. She outlined a calendar in which departmental requests begin in March, draft budgets are presented by July and public hearings are typically held in September.
Fr…
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