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Officials defend stabilization funds and free‑cash practice as councilors press for transparency
Summary
Mayor Sherra and Finance Director Nardi argued that moving certified free cash into targeted stabilization funds (capital, climate, special education, fiscal stability) is prudent for year‑round liquidity; some councilors said early allocations limit flexibility and asked for clearer debt schedules and fund details.
City leaders defended a policy of transferring certified free cash into several stabilization accounts, saying earmarked reserves give the city year‑round liquidity and prioritize capital, climate and special education needs.
Director Nardi explained that free cash is certified by the Department of Revenue (usually in November–December) and that stabilization accounts are intended…
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