Posted on December 17, 2018
With a sheet of ice covering Sassaquin Pond behind him, Mayor Jon Mitchell announced Thursday a proposal to devote unused funds to provide for a cleaner environment.
The mayor proposed a number of items that will be heard before the City Council on Thursday, which included $300,000 for the filtration and dredging of Sassaquin Pond and $500,000 for new police vehicles.
“We already have our current year’s budget in place so we want to take those funds and make sure we’re putting it in the right places,” Mitchell said.
Chief Financial Officer Ari Sky said the city had $4.5 million in “free cash” or unused funds following the end of the fiscal year. The state recommends free cash be used for one-time capital needs.
Sky said 34 percent of the free cash would be used for the one-time capital needs, while 35 percent or $1,605,000 will be deposited into the city’s “rainy day” fund and OPEB (Other Post Employee Benefits) transfers, and the remainder would be put in a reserve for future use.
Source: SouthCoastTODAY
