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Council agrees to retire Land Acquisition Fund and move balance to General Fund
Summary
City Administrator Robertson told the council the Land Acquisition Fund was established for purchases such as a new fire station and carries no legal restrictions; the council agreed to retire the fund and transfer its balance into the General Fund.
Council members agreed to retire the Land Acquisition Fund and move its balance into the General Fund during the budget work session.
City Administrator Robertson said the land fund was created to set aside money for purchases such as a new fire station and indicated there are no restrictions preventing the transfer. Mayor Hendricks and council members discussed whether the balance should be retained; the council ultimately agreed to close the account and reassign the funds to the General Fund for broader use.
Robertson noted the Debt Service Fund will remain empty until the City requires debt financing. The council directed staff to treat the former land‑acquisition funds as part of the General Fund for FY2018 budgeting and to present updated budget documents reflecting that change.
