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Council signals consensus on proposed $5.6M Fund 312 allocations for one-time capital projects
Summary
Finance staff outlined roughly $5.6 million in excess 2023 fund balance available for one-time capital uses (total sources ~ $7.9M), and the council expressed consensus to follow the finance committee's recommended allocations including pavement preservation, local access streets, Sullivan Road match and park improvements.
Finance Director Chelsea Walls presented the Fund 312 (capital reserve) analysis and a proposed allocation package built from a $5.6 million excess 2023 fund balance plus additional sources (RCO Flora Park reimbursement of $1,000,000 and net proceeds of $317,000). Walls said the transfer produces roughly $7.9 million available for one-time capital allocations and reviewed items already included in the…
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