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Council approves $1.962M budget appropriation for property purchase and demolition; midyear report shows revenue/expenditure timing issues
Summary
Council approved Resolution No. 2608 to appropriate $1,962,000 from the Revenue Stabilization Fund for property purchase and demolition costs and accepted the FY25–26 midyear budget vs. actual report, which shows revenues near 49.4% of budget and expenditures at about 35.7% at midyear, prompting caution about multi‑year patterns of expenditure exceeding revenue.
The Cudahy City Council unanimously approved a budget amendment Monday to move $1,962,000 from the Revenue Stabilization Fund to the General Fund to cover the planned purchase of real property and related demolition costs, including work tied to a fire at 8420 Atlantic Avenue.
Senior Accountant presented the request, describing demolition costs and a "put" agreement that required the…
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