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Committee reviews dormant funds, COVID grant, and role of redevelopment general fund
Summary
Clerk-treasurer explained fund dormancy rules (no transactions for two years) and said a COVID fund of about $25,000 was spent down to zero pending a final filing; staff also noted the redevelopment general fund exists automatically when a redevelopment commission is established.
The clerk-treasurer told the committee that a fund is considered dormant if it has no transactions for two years and that staff are monitoring small funds to see which may be removed from active lists. She said the COVID fund had about $25,000 that was obligated to a prior stormwater project but will reach zero after one remaining filing, and that the mayor's gala fund had a $5,000 check that left it at zero.
On the redevelopment general fund, staff explained the fund is typically created when a redevelopment commission is established and is not usually budgeted unless the commission has staff or specific payouts. Committee members asked the clerk-treasurer to confirm whether a redevelopment fund can be removed and to report back.
