City of Somerville header
File #: 24-0823    Version: 1
Type: Mayor's Request Status: Approved
File created: 5/26/2024 In control: City Council
On agenda: 5/30/2024 Final action: 6/25/2024
Enactment date: 6/20/2024 Enactment #: 217282
Title: Requesting the appropriation of $1,000,000 from the Unreserved Fund Balance ("Free Cash") to the Salary & Wage Stabilization Fund.
Indexes: Finance-Assessing, Finance-Auditing, Finance-Budget, Finance-Grants Development, Finance-Procurement & Contracting Services, Finance-Treasury
Code sections: Appropriation/Budget -

Agenda Summary

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Requesting the appropriation of $1,000,000 from the Unreserved Fund Balance ("Free Cash") to the Salary & Wage Stabilization Fund.

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Official Text

To the Honorable City Council:

 

The Mayor respectfully requests that this Council appropriate $1,000,000 from Unreserved Fund Balance ("Free Cash") to the Salary & Wage Stabilization Fund as a reserve for collective bargaining agreements and non-union salary adjustments.

 

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