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Green Island adopts fund-balance policy, allocates $1.8M from reserves for 2025 budget
Summary
The board adopted a fund-balance policy allowing use of reserves for essential high-cost items in the 2025 budget and noted a $1,800,000 allocation for items including new water meters, parking-lot work (shared costs), body cameras and fire department radios; staff said grant awards could offset some expenses.
Village staff presented and the board adopted a fund-balance policy that establishes rules for using reserve (savings) funds and reflects allocations in the 2025 budget. Staff said the village has a "pretty strong and stable reserve account" and that this policy enables targeted use of reserves toward essential capital and operating needs included in the year's budget.
Staff identified $1,800,000 in allocated reserve spending in the 2025 budget for items such as new water meters, parking-lot work shared with the local improvement authority (GIPA), body cameras and fire department radios. Staff also said grant awards would offset portions of some projects and that any offsets would return savings to the reserve account. The board adopted the policy by voice vote.
