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Council directs $1.9M toward ASRS prepayment and moves remainder of FY26 surplus to capital reserve
Sedona City Council · April 23, 2026
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Summary
With a roughly $5.5M audited FY26 surplus, Sedona council voted to place $1.9M toward an ASRS prepayment vehicle (dollar‑cost‑averaging recommended) and to move remaining surplus to the city’s general capital reserve for flexibility amid CIP grant uncertainty.
Councilors voted to allocate the city’s audited FY26 surplus (approximately $5.5 million) between a pension prepayment vehicle and the general fund capital reserve.
Staff explained that Arizona State Retirement System (ASRS) is a multi‑employer, cost‑sharing plan and that a lump‑sum prepayment behaves differently than a…
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