SomervilleMeetings

25-1115 Mayor's Request Approved

Requesting the appropriation of $5,000,000 from the Unreserved Fund Balance ("Free Cash") to the Rainy Day Stabilization Fund.

Introduced
Jun 10, 2025
Assigned to
City Council
Enactment #
219210
View on Legistar

History

  1. Jun 27, 2025
    City Council Mayoral Approval
  2. Jun 26, 2025
    City Council Approved · roll call: pass Meeting agenda, item 5.18.
  3. Jun 12, 2025
    City Council Laid on the table Meeting agenda, item 7.12.

Official text

To the Honorable City Council: The Mayor respectfully requests that this Council appropriate $5,000,000 from Unreserved Fund Balance ("Free Cash") to the Rainy Day Stabilization Fund. The Rainy Day Stabilization Fund is a necessary reserve to protect the City against an economic downturn that would threaten the provision of essential services. This measure is in accordance with the City's Free Cash policy. Appropriate staff will be available to answer any questions you may have. Thank you for your consideration of this matter. Respectfully Submitted, Katjana Ballantyne, Mayor