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Committee reviews 0.25 budget adjustments and a transfer to capital projects to cover reimbursements
Summary
Presenter described second-part 0.25 budget adjustments to close the year, noting a transfer from the general fund to capital projects to cover a temporary cash deficit while state reimbursements are pending and several small grant-driven adjustments.
The Presenter (S2) explained the 0.25, part 2 budget adjustments intended to close FY2026 and prevent any fund from ending over budget. The Presenter said most adjustments were minor grants received late in the year, and the most significant change is a transfer out from the general fund to capital projects to cover a cash deficit while the city awaits state reimbursements.
The Presenter said once the state reimbursements arrive, the city will transfer the money back into the general fund. The Presenter also noted modest airport enterprise adjustments to increase both fuel sales revenue and the corresponding fuel purchase expenditures. Committee members asked no formal questions about the adjustments during the meeting.
