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Williamson council records $1.08 million in general fund, opens dedicated capital improvement account
Summary
Council reviewed fund balances (General Fund $1,080,908.51) and unanimously approved creating a separate bank account for capital improvement funds after noting approximately $112,000 earmarked for capital projects.
The Williamson City Council on July 2 reviewed its current fund balances and voted to open a separate bank account for capital improvement funds.
Council recorded the General Fund balance as $1,080,908.51, SPLOST at $397,659.22 and the Water Fund at $273,563.15. Members discussed tracking the unrestricted cash balance and noted that about $112,000 is earmarked for capital improvements; a motion to open a dedicated capital improvement account passed (motion recorded JS/SL, 5-0). The motion was moved and seconded as recorded in the minutes.
The council confirmed that unspent budgeted funds and revenue over budget would move to the unrestricted cash fund balance at the end of the fiscal year and that the budget officer can transfer funds between line items as needed. No additional implementation timeline or bank selection was recorded in the minutes.
