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Council approves transferring remaining bond funds to community-center account after debate
Summary
By a 4' 3 vote the council moved $681,006.30 from capital bond funds into the community-center enterprise fund for maintenance and working capital; administration says bond counsel allowed up to 5% for operational uses and further appropriations will come back to council.
Councilors debated a request to move $681,006.30 in remaining bond funds into the community center enterprise fund to cover maintenance contracts and working capital. Director McBride said bond counsel confirmed up to 5% of bond proceeds may be used for operational needs and that the EPA-funded remediation project'related item earlier on the agenda did not consume the capital balance.
Some councilors questioned why the building, described as recently completed and costing roughly $40 million, would need such a large working balance. "That 681,006.30 is not necessarily going to be used for all maintenance contracts," McBride said, listing a known elevator maintenance contract (about $50,000) and gym-equipment maintenance (a few thousand dollars) as presently identified needs. The mayor described the transfer as establishing an enterprise-fund cushion to respond to future, unforeseen facility costs. The appropriation passed on roll call 4' 3.
