City of Somerville header
File #: 211271    Version: 1
Type: Mayor's Request Status: Approved
File created: 2/8/2021 In control: City Council
On agenda: 2/11/2021 Final action: 2/25/2021
Enactment date: 2/11/2021 Enactment #: 211271
Title: Requesting approval to appropriate $1,843,117 from the Unreserved Fund Balance ("Free Cash") to the Rainy Day Stabilization Fund to replenish reserves used to create the Small Business Emergency Relief Fund.
Code sections: Stabilization Fund -

  Agenda Text

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Requesting approval to appropriate $1,843,117 from the Unreserved Fund Balance ("Free Cash") to the Rainy Day Stabilization Fund to replenish reserves used to create the Small Business Emergency Relief Fund.

 

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Official Text

To the Honorable City Council:

 

I respectfully request that your Honorable City Council appropriate $1,843,117 from the Unreserved Fund Balance ("Free Cash") to the Rainy Day Stabilization Fund for the purpose of restoring reserves used to create the Small Business Emergency Relief Fund. An appropriation of $1,843,117 from the Rainy Day  Stabilization Fund to the Small Business Emergency Relief Fund was approved by your Honorable Council at your December 13th  regular meeting.

 

My staff will be available to answer any questions you may have. Thank you for your consideration of this matter.

 

Respectfully Submitted,

Joseph A. Curtatone, Mayor