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Council debates setting aside surplus for cash-completion grants and a reserve floor
Summary
A sponsor proposed adding language to budget ordinance 0.106 to require excess operating reserves be placed into a 'multi-year programs and initiatives' subfund to cover committed cash-completion grants; members debated a possible 15% reserve floor and asked auditors for data.
Council member Laydon (bill 2026-213 sponsor) proposed two sentences to the budget ordinance (0.106) that would require surplus operating reserves above the ordinance target to be transferred into a multi-year subfund to fund previously committed cash-completion grants. He said the intent is to remove future cash-completion grant liabilities as a recurring budget headwind by setting aside surplus when the city's reserves…
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