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Board authorizes $2.27M transfer from operations to capital to fund Dogwood work
Summary
To preserve reserve targets while proceeding with the Dogwood FEMA project and other capital needs, the board approved a $2,268,865.78 transfer from Fund 1 to Fund 4 and asked staff to publish a clear funding schedule for public review.
The board approved an interfund transfer of $2,268,865.78 from Fund 1 (operations) into Fund 4 (capital projects) to support the Dogwood FEMA project and other planned capital work. Administration described how the transfer, combined with expected Fund 4 revenue (and FEMA reimbursements), would keep Fund 4 at a healthy reserve level after the year’s planned capital draws.
"If you look at that 15, now you're gonna be at 20, you're gonna be at 21,000,000 in fund 4 with 10,000,000 coming out this fiscal year," staff said when explaining post-transfer balances and the planned capital draw for the year. The board asked staff to present a clear, public-facing funding summary that shows sources and planned expenditures for the Dogwood project and other major capital items so taxpayers can review how the district will spend and replenish those funds.
The motion to transfer the stated amount passed by voice vote. Finance staff will post updated fund summaries and include the transfer effects in the next treasurer’s report.
