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Council approves $150,000 fire-department investment, votes to take no action on proposed $65,000 transfer
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Summary
At the meeting, council members approved placing $150,000 from the fire department capital outlay account into a certificate of deposit for future equipment purchases and voted to take no action on a separate request to transfer up to $65,000 to cover unforeseen budget deficiencies, deferring that decision pending further review of March financials.
The council approved a motion to recommend that the city treasurer invest $150,000 from the fire department capital outlay account into a certificate of deposit to fund future fire equipment purchases.
The motion to authorize the investment was made by the Clerk (speaker 2) and seconded by the Chair (speaker 1). During brief discussion the Chair said the investment practice is “pretty common” and that Chief Young had raised the item; the Mayor (speaker 4) noted the city’s February financials suggested room to invest. The motion carried on a roll-call vote.
Separately, council discussed a proposed recommendation to transfer up to $65,000 from an allocated fund (022015041) to cover unforeseen fiscal-year budget deficiencies. The Mayor described several drivers for the request — higher-than-expected COBRA administration fees, rising dues and subscriptions, additional audit charges (he identified about $8,500 in extra audit costs), and spikes in worker’s compensation and certain billing-code fees — and recommended increasing the requested amount toward $75,000 to ensure coverage.
Council members pressed for detail on how much had been set aside in unallocated reserves at the start of the budget year and whether money could be moved from under‑spent departmental accounts instead of drawing reserves. The Mayor and other speakers said the treasurer typically balances accounts at year‑end and that the group should revisit the request after March financials provide a clearer picture.
Instead of approving the transfer that night, a motion to take no action on the proposed transfer was made, seconded and carried by roll call. Council directed staff to keep the transfer proposal on their radar and to return with updated figures after the March reports.
The meeting concluded with a motion to adjourn that was approved by voice/roll-call.
