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Midway Council approves FY2026 budget amendment, moves to shore up idle cash
Summary
The council unanimously adopted Resolution 2026‑06 to approve the FY2026 budget amendment and directed monitoring of fund balances after discussion about approximately $3.2 million held in a non‑interest account; Treasurer said funds could be moved to the Public Treasurers' Investment Fund as soon as that evening.
The Midway City Council unanimously approved Resolution 2026‑06 on Feb. 17, adopting the FY2026 budget amendment as presented and noting the need to monitor fund balances.
Budget Director Nancy Simons said the amendment matched the version reviewed at the strategic planning meeting with a minor $200 adjustment for name badges. Council Member Andy Garland raised a concern that roughly $3.2 million in a Grand Valley Bank account was not earning interest; Treasurer Jennifer Sweat agreed the balance was higher than typical and said transfers to the Public Treasurers' Investment Fund could be made that evening.
The council opened a public hearing on the amendment; no members of the public spoke. Following discussion, Garland moved to approve the resolution with the council instructing staff to monitor fund balances; the motion was seconded by Council Member JC Simonsen and passed unanimously (Garland, Orme, Osborne, Payne, Simonsen — Aye).
