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Board member warns of shrinking reserves, urges replenishment
Summary
A board member told the city commission the district’s reserves could fall from roughly 248 days of cash to about 63 days by 2032 and urged replenishing funds removed from reserves.
A board member told the City Commission the district has three priorities related to its budget: ongoing increases that drain reserves, depletion of cash-on-hand and a plan that the board believes would reduce available days of cash from about 248 to roughly 63 by 2032. The board member said he asked the commission to restore $1 million that had been removed from reserves and urged staff to maintain an emergency operating cushion.
“I found that very disturbing that we actually have a plan to go broke,” the board member said, describing the long-term projection and urging policies to keep at least a one-year operating cushion where possible. The board member said he had not seen evidence the commission adopted the requested changes and said the district’s role is to advise on bight-specific matters while highlighting fiscal vulnerability. Board members asked staff to continue monitoring reserve levels and to report back on potential adjustments.
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