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Board begins discussion of possible uses for an estimated $750,000 2025 permanent fund distribution
Summary
City staff told the advisory board the 2025 permanent fund distribution could be about $750,000 (50% of prior-year earnings), and the board discussed directing distributions to capital projects or one-time spending such as road maintenance; staff will provide the five-year capital plan and estimates for road maintenance at the next meeting.
City staff told the Investment Advisory Board that the permanent fund distribution is based on prior-year earnings and could be distributed up to 50% of earnings; staff said the expected amount for the coming distribution is about $750,000. "The amount that was available for distribution was $750,000 if I recall correctly," a staff member said.
Board members discussed directing that distribution toward one-time capital expenditures rather than recurring costs and flagged road maintenance as a possible use. Staff said it is typical to treat road maintenance as a recurring expense but that using a distribution for additional maintenance in a given year is a reasonable option; staff committed to emailing the board the five-year capital improvement plan and to provide cost estimates for road maintenance at the next meeting.
