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Edmonston reports reserve drop to $50,000; grant reimbursements expected to restore funds
Summary
Administrator Rod Barnes reported the FY25-26 reserve fell from $700,000 to $50,000 but said roughly $500,000 in grant reimbursements should restore reserves; MNCPPC presented a new three-year Recreation Center lease with two one-year extension options for November consideration.
Administrator Rod Barnes briefed the council on the first quarter of the FY25-26 budget, reporting that the town’s reserve fund decreased from $700,000 to $50,000. Barnes said expected grant reimbursements of approximately $500,000 will restore reserves and that the town will present a fiscal-year projection report at the November meeting.
Barnes also noted that the Maryland-National Capital Park and Planning Commission (MNCPPC) has established a new three-year lease agreement for the Recreation Center with options for two additional one-year extensions; staff will present the lease for council consideration and approval in November.
