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Cross Plains committee agrees on principle: water and sewer keep interest, staff to draft clearer allocation policy
Summary
The Finance, Advisory and Enhancement Committee recommended keeping interest earned by water and sewer enterprise funds and capital project accounts separate and asked staff to draft a clear monthly/prorated allocation procedure that would send remaining pooled investment income to the general fund for review at a future meeting.
The Village of Cross Plains Finance, Advisory and Enhancement Committee on Jan. 6 recommended that interest from enterprise funds — specifically water and sewer — and from capital project borrowing be kept in those accounts while directing staff to draft a clear policy for allocating remaining pooled investment income to the general fund.
The committee's discussion focused on fairness to enterprise funds and practical limits imposed by levy caps. Unidentified Speaker 1, who introduced the issue, said enterprise funds should receive interest because they are 'user-fee supported' and that proceeds…
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