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New Windsor council moves $342,999 and $430,459 into capital reserves
Summary
The Town Council approved transfers of $342,999 from the General Fund and $430,459 from the Enterprise Fund into respective capital reserves as part of the FY25 budget review; both motions passed 4-0.
The New Windsor Town Council on July 21 approved two budget transfers into capital reserves as part of its FY25 budget review.
Council reported FY25 General Fund income of $1,329,120 and expenses of $985,821, and approved a motion by Councilmember Dante Howard to transfer $342,999 from the General Fund to the General Fund Capital Reserve; Councilmember Connor Frock seconded and the motion passed 4-0.
The council also recorded Enterprise Fund income of $1,625,986 and expenses of $1,195,527, and approved a motion by Councilmember Joshua Wolfe Mallow to transfer $430,459 from the Enterprise Fund to the Enterprise Capital Reserve; Councilmember Dante Howard seconded and the motion passed 4-0.
Together the two approved transfers total $773,458. The minutes do not include details on specific projects to be funded from those capital reserves or expected timelines for expenditure.
The council took these items during a work session called to order by Mayor Cornick. The council adjourned at 7:49 p.m.
