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Board endorses municipal-code amendment to allow loans between utilities, forwarding recommendation to council
Summary
The Utility Service Board voted to recommend that the Common Council add a section to Title Two of the Bloomington Municipal Code allowing utilities to create cash reserve funds and make loans between utility funds when needed.
The Utility Service Board on April 20 approved resolution 2026-10 recommending that the Common Council amend Title Two of the Bloomington Municipal Code to permit loans between utilities.
Chris Wheeler, representing City Legal, described the proposal as an administrative change to add a new section (proposed 2.24.091) that would allow utilities to create cash reserve funds and provide loans from one utility to another if one system is short and another is flush. Wheeler said the resolution merely recommends council consider the statute-language ordinance required to implement the flexibility.
Board members asked whether the utility has previously used this mechanism. Wheeler and staff said the board has discussed the idea during budget conversations but has not actually borrowed funds; the resolution is a preparatory step so the utility can act if needed in the future.
A board member asked about how frequently the step would be used; staff said they continue to monitor cash flow and do not plan to borrow immediately.
The board approved resolution 2026-10 by voice vote and will forward the recommendation to the Common Council for ordinance action.
