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Council approves $718,000 reserve transfer and adopts midyear budget update
Summary
Council approved transferring $718,000 from available general-fund reserves ($50,000 to IT equipment; $334,000 to facility rehabilitation; $334,000 to park and trail maintenance) and adopted the FY25-26 midyear budget, which projects the unassigned fund balance rising about $282,000 to $25.6 million after savings and MOU adjustments.
The City Council on March 10 approved two related fiscal actions: a reserve transfer totaling $718,000 and the fiscal-year 2025-26 midyear budget update.
Stacy Timani, chief financial officer, explained the reserve calculation: audited unassigned fund balance for FY24/25 is $25.3 million and the policy-required 20% reserve is $24.6 million,…
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