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Council considers transferring $489,053.74 from Parkland Acquisition Fund to General Fund
Summary
Service staff proposed liquidating the Parkland Acquisition Fund (Fund 456) and transferring $489,053.74 to the General Fund; Auditor Cathy Fix said legal advice requires first moving funds to the General Fund, with a subsequent transfer into Park Capital (431) possible to preserve park uses.
Service Director Matt Hiscock described the proposal to liquidate the 456 Parkland Acquisition Fund and transfer $489,053.74 into the General Fund. Hiscock said the fund's historical uses changed over decades and recent ordinance changes and property acquisitions made further Parkland Acquisition expenditures unlikely. He said the council could later move funds from the General Fund to the Park Capital Fund (431) to keep funds available for park projects.
City Auditor Cathy Fix said the legal opinion reviewed by staff required the transfer first to the General Fund; a subsequent line item could move the dollars to the 431 Parks Fund if Council prefers to keep the funds for parks. Council discussion showed majority support for keeping the funds available for park uses, and members planned to address allocation during upcoming budget sessions. The Clerk assigned Ordinance No. 26-071 for readings.
