City of Somerville, Massachusetts - File #: 26-0963

• File #: 26-0963
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 5/30/2026
• In control: City Council
• On agenda: 6/11/2026
• Final action: 6/29/2026
• Enactment date: 6/25/2026
• Enactment #: 220950
• Title: Requesting the appropriation of $2,000,000 from the Water Enterprise Retained Earnings Account to the Water Capital Stabilization Fund.
• Indexes: Finance-Assessing, Finance-Auditing, Finance-Budget, Finance-Grants Development, Finance-Procurement & Contracting Services, Finance-Treasury, Water & Sewer
• Code sections: Appropriation/Budget -

Date	Ver.	Action By	Action	Result
6/29/2026	1	City Council	Mayoral Approval
6/25/2026	1	City Council	Approved	Pass
6/23/2026	1	Finance Committee	Recommended to be discharged with no recommendation	Pass
6/11/2026	1	City Council	Referred for recommendation

Agenda Summary

title

Requesting the appropriation of $2,000,000 from the Water Enterprise Retained Earnings Account to the Water Capital Stabilization Fund.

body

Official Text

To the Honorable City Council:

The Mayor respectfully requests that this Council appropriate $2,000,000 from the Water Enterprise Retained Earnings Account certified as of July 1, 2025 to the Water Capital Stabilization Fund. The purpose  of the appropriation is to build reserves for the Water-Sewer Capital Improvement Program.

Appropriate staff will be available to address any questions you may have. Thank you for your consideration of this item.

Respectfully Submitted,

Jake Wilson, Mayor