Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Council approves $45,000 CCD appropriation and transfers $300,000 from food-and-beverage fund to parks
Summary
On second reading the council passed Ordinance 26-01 to appropriate $45,000 in the municipal cumulative capital development fund and adopted resolutions 2608 and 2609 authorizing internal transfers, including a $300,000 shift from the food-and-beverage fund to a park non-reverting operating fund for operations.
The Merrillville council on April 7 approved an additional appropriation and a series of fund transfers intended to align operations with the adopted budget.
Town attorney and staff confirmed publication requirements and advised the council to proceed to second reading of Ordinance 26-01 (also recorded as 2601 in the record). The ordinance would increase spending authority in the municipal cumulative capital development (CCD) fund by $45,000 to restore prior-year expenditures and maintain reserve practices; the ordinance passed on second reading by roll call (five in favor, two absent).
Council then approved Resolution 2608, an interfund transfer (net effect zero) that moves $78,650 within town funds, and Resolution 2609, which authorizes a $300,000 transfer from the food-and-beverage fund into the park non-reverting operating fund for operations. Staff said the park transfer was discussed at prior budget and finance sessions and that a more detailed schedule of planned transfers would be presented to the committee at a later meeting. The Clerk-Treasurer had reported a food-and-beverage fund balance of $2,621,724.84 collected from 114 businesses.
Councilors said the transfers reflect budget direction adopted earlier and asked staff to return with implementation details at the next budget and finance meeting.
