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Council transfers $78,500 from Odell account to Campground savings
Summary
Montrose Council authorized transferring $78,500 from an overfunded Odell MM account back to the Campground MM account to rebalance reserves (Action 25-109).
The city approved a $78,500 intra-fund transfer to move excess money from the Odell MM account back into the Campground MM account.
Council made the transfer (Action 25-109) in response to an overfunded Odell account and needs in campground operations. The motion was moved by Council Scheff, seconded by Council Hanisch and carried unanimously. Finance staff will reflect the transfer in account statements and report on the Campground account status in future financial updates.
The minutes do not specify whether the transfer is a one-time correction or part of a larger reallocation plan; FO included the transfer as part of routine account balancing during the July financial review.
