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Council votes to pay off pool loan from sinking fund; clerk reports revenues and expenses
Summary
On July 9 the Melbourne City Council approved paying the $40,203.97 pool loan from the sinking fund balance and received the clerk’s revenue and expense reports totaling $74,384.05 and $156,257.06, respectively.
City Clerk Mary L. Pothast asked the council to pay off the remaining pool loan balance of $40,203.97 from the sinking fund balance of $40,276.81 so the sinking fund can resume allocations between the Rec Center and pool savings per the original LOST vote. Council member Juel moved to approve the payoff; Council member C. White seconded and the motion passed unanimously.
The clerk also presented a revenue summary showing $74,384.05 in receipts across general, road use, water and sewer funds and an expense report showing $156,257.06 in disbursements across similar accounts. The council did not identify additional funding actions during the meeting.
The payoff will remove the outstanding pool loan while leaving a small remainder in the sinking fund to be split as directed by prior voter action on LOST allocations.
