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Council approves fourth-quarter budget adjustments to capture grants and consolidate interest
Summary
Council approved Resolution 2026-20 to adjust the FY2026 fourth-quarter budget to incorporate grants received after the final budget and to consolidate approximately $288,000 in interest into a single general ledger line before submission to the Department of Finance and Administration.
City finance staff said grants arrived after the final budget and staff found interest recorded across multiple lines; they consolidated the interest into one GL line totaling roughly $288,000 and requested council approval to submit the adjusted budget to the Department of Finance and Administration (DFA). "288,000 is all in that account though," staff said while explaining the correction.
Council moved and seconded the resolution to incorporate the grant funds and interest allocation and approved the submission. Staff noted they had worked several days to locate where the prior administration placed interest amounts; no specific grant program names or vendor amounts were listed in the discussion beyond the consolidated interest figure.
