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Council approves most budget amendments, approves large CIF transfers but tables final amendment
Summary
Council approved several budget amendments to accept grant funds and move revenue into a Community Investment Fund (CIF), including a $127,080 Carolina Thread Trail grant (invoices totaling about $78,000) and a $773,000 CIF transfer. A final transfer (Amendment 10) was debated and received no action.
Lowell City Council approved multiple budget amendments that will move recent grant receipts into the ledger and allocate general-fund balances into the Community Investment Fund (CIF), but the council tabled a final transfer after questions about whether the CIF accumulates too much of the city's general-fund balance.
What passed: The council approved Budget Amendment No. 5 to allocate previously received Carolina Thread Trail grant funds (presented as $127,080 total grant receipts) so the city can pay invoices now totaling about $78,000 to the…
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