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Council adopts Susie’s funding plan to finish key projects and rebuild reserves
Summary
Finance Director Susie presented FY2025 estimated fund balances and recommended reallocating leftover bond and water/wastewater monies to finish core projects (TX‑288 match, wastewater treatment, Lorraine) and to fund park projects. Council approved Susie’s recommendations and asked staff to implement transfers while protecting reserve targets.
The council voted to accept a funding plan presented by Finance Director Susie, who outlined estimated FY2025 fund balances and available bond proceeds. Susie reported the city’s audited 2024 general‑fund balance was 15% and estimated 2025 at 21% (preliminary), with constrained reserves.
She proposed using leftover proceeds from the 2022 and 2025 bonds and water/wastewater funds to complete priority projects: the TX‑288 match/construction phase, wastewater treatment upgrades and the Lorraine project, while also funding park priorities including Freedom Park and Bates Park fields and finishing Abigail Phase 1. Susie noted the need to preserve reserves (roughly $200,000 per percentage point) and reminded council that FEMA reimbursements remain pending for a larger debris claim.
Council voted to approve Susie’s recommended fund‑balance allocations and directed staff to proceed, emphasizing that any reallocation should preserve minimum reserve goals and that staff should return with a schedule of transfers and planned project expenditures.
