Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Budget committee votes 3-0 to forward new fund-balance policy to Board of Mayor and Aldermen
Summary
At its January 2026 meeting the Budget and Finance Advisory Committee voted 3-0 to forward a draft fund-balance policy that sets an unassigned fund-balance target of 4 to 6 months and creates a stabilization reserve; staff cited GFOA guidance and a potential sewer moratorium as reasons for the change.
At its January 2026 meeting the Budget and Finance Advisory Committee voted 3–0 to favorably recommend a new fund-balance policy to the Board of Mayor and Aldermen.
The policy draft, presented by Miss Holden (finance staff), replaces a 2022 reserve fund policy with a fund-balance framework that follows Government Finance Officers Association (GFOA) recommendations and the comptroller's guidance. Miss Holden said the proposal sets an unassigned fund-balance target of "4 to 6 months of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
