Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Policy topic
No spam. Unsubscribe anytime.
Hammond council adopts unassigned fund balance policy to preserve emergency reserves
Summary
The council approved an ordinance formalizing an unassigned fund balance policy intended to protect emergency reserves and clarify fiscal checks between the council and mayoral administration. Sponsors said the policy would designate a portion of the city’s fund balance for emergencies.
The Hammond City Council on July 28 adopted an ordinance establishing an unassigned fund balance policy intended to ensure an emergency reserve and provide clearer checks between the council and the mayor’s office. Supporters said the policy would prevent spending the entire available fund balance and preserve money for unplanned needs.
During the presentation, a sponsor described a simple example: “If we had $5,000,000 that we were looking to actually work from, we would actually be looking at $4,000,000 because the other million would be designated… going toward emergency funds,” and said the policy is “proper stewardship of city funds.” After public comment (none on the item), a motion to adopt the ordinance passed by voice vote. The council recorded ayes from Councilman Leon, Councilman de Vittorio, Councilwoman Gonzales, Councilman David Terrio and Councilman Andrews.
The adopted policy sets an internal framework for maintaining minimum reserve levels and gives administration and the council a structure for budgeting and emergency response. Staff said additional guidance on implementation will follow through ordinance documentation and budget procedures.
