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CFO: surplus not yet finalized; cash vs. bonding choices depend on final surplus
Summary
Aldermen and staff debated whether smaller capital items should be paid from surplus rather than bonded. CFO Don Enright said surplus totals are still being finalized and staff will use available cash for projects when appropriate.
Aldermen asked whether smaller projects — examples cited around $1.5 million — should be paid with cash rather than financed. The committee heard that the decision depends on available surplus, which the finance office is still calculating as it closes FY26 accounts. "The surplus, is the number that we are working on right now because we are just finishing up with all of the AP for f y 26," CFO Don Enright said, adding that staff should have a definitive figure in a couple of weeks.
Enright and committee members said the city has used cash for specific projects when surplus permitted (for example, the police training building renovation and fire station roofs), but cautioned that some projects are better bonded because bond-excluded debt can be treated differently for cap calculations. Members asked staff to identify which smaller projects could realistically be paid from cash and which should be financed, and to bring that analysis to the Board of Aldermen.
