Use budget surplus to fix negative balances in city funds
In Plain English
The city ended fiscal year 2022 with a surplus of about $12 million in the general fund. Some specialized city funds have negative cash balances that accumulated over many years. The council must decide whether to use surplus money to fix these negative balances and which approach to take.
Auto-generated summary. Source: official agenda documents.
Votes
To adopt said resolution approving Option 1 to clear the negative cash at once
4 to 0
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