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Clerk reports corrected $60,000 transfer, LARM insurance payment driving down General NFIT balance
Summary
City Clerk Tamela Curtis reported the General NFIT savings dipped after several large payments including an LARM insurance charge; a $60,000 bank transfer error from Union Bank will be reversed, restoring the account to about $147,578, but the council acknowledged possible future equity transfers and the need to seek reimbursement from organizations including PCAL and the Chamber.
City Clerk/Treasurer Tamela S. Curtis told the Pawnee City Council on Nov. 24 that the General NFIT (savings) account has declined in recent weeks and explained the primary reasons and corrective steps.
Curtis cited several claims paid in a short period — notably an insurance payment to LARM (identified in meeting discussion as about $144,000) — as contributors to the drop in the General account. While reconciling the October bank statement she discovered a $60,000 transfer from the General NFIT account to the Utility Checking account that Union Bank in Lincoln had executed; she contacted NFIT and said the transfer would be corrected the following Tuesday, restoring the General NFIT balance to about $147,578.
Council members discussed discretionary spending that reduces General funds, including donations, credits to organizations' water bills and purchases such as radar signs and library materials. Deputy Clerk Kellie Wiers noted that PCAL intends to refund a portion of building insurance costs to the City; staff will ask PCAL to submit a written plan if it intends to spread repayments over the next fiscal year. The council also discussed requesting reimbursement up front from the Chamber for fireworks (the City paid the vendor early to obtain a discount) rather than waiting until mid-July.
Council did not take a separate equity-transfer vote at the Nov. 24 meeting but indicated it may pursue an equity transfer later if necessary to keep the General account solvent. Staff were directed to follow up with the Chamber and PCAL on repayment timing and to report back to Council.
