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Council adopts ordinance requiring annual CPA financial report to city council
Summary
Council voted to amend ordinances to require the Community Preservation Act committee to submit an annual financial communication by the first council meeting in March detailing balances, deposits, withdrawals, encumbrances and payroll/consultant costs; the council passed the measure after minor wording amendments.
The Holyoke City Council voted on Feb. 17 to amend city ordinances to require the Community Preservation Act (CPA) committee to submit an annual communication to the city council by the first meeting in March. The report must include the most recent account balances, where funds are deposited or invested, dates and amounts of deposits from the Commonwealth, the city or other sources, and dates and amounts of withdrawals or payments supporting CPA projects. The measure also requires a separate delineation of payroll and consultant expenditures and a listing of encumbered and available funds.
Councilor McGrath Smith, reporting for the ordinance committee, told colleagues the language replaces a vague requirement for "some quarterly financial information" with a clearer annual report that the committee already assembles in advance of its March meeting. She recommended passage and noted the committee asked for reasonable time to compile the new, more detailed report for the first cycle.
Councilor Bacon pointed out that the revised language also allows the council to request additional updates as needed. The council approved small wording amendments suggested on the floor and passed the first and second readings and the motion that the passage be ordained as amended on roll call with unanimous support.
The new ordinance is intended to increase transparency about CPA account activity and help the council evaluate funding availability before project approvals.
