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Tenino council records prior interfund transfers and authorizes short-term loan to cover year-end cash needs
Summary
The Tenino City Council adopted resolutions formalizing roughly $1.3 million in prior interfund transfers and authorized a short-term $500,000 interfund loan to the general fund; council also approved a second-reading budget ordinance to reconcile actual 2024 beginning balances.
The Tenino City Council on Oct. 8 adopted two resolutions to formally record past internal transfers and to authorize a short-term interfund loan, and passed a second-reading budget ordinance to reconcile this year's starting balances.
Mayor (on Zoom) told the council they need to "make that right" after spending "some money out of our utility funds that we're not supposed to do without prior council approval," describing a package that includes about $1,300,000 in prior transfers that must be recorded and a proposed $500,000 borrowing to cover near-term cash needs. He said about half of the $1.3 million reflects upfront costs for the ag park, and the city expects some reimbursement…
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