City of Somerville, Massachusetts - File #: 213917

• File #: 213917
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 5/30/2022
• In control: City Council
• On agenda: 6/2/2022
• Final action: 6/23/2022
• Enactment date: 6/2/2022
• Enactment #: 213917
• Title: Requesting an appropriation of $1,300,000 from the Sewer Enterprise Retained Earnings Account to the Sewer Capital Stabilization Fund.
• Code sections: Stabilization Fund -

Date	Ver.	Action By	Action	Result
6/30/2022	6	BOA	Mayoral Approval
6/23/2022	5	City Council	Approved
6/22/2022	4	Finance	Recommended to be discharged with no recommendation
6/2/2022	3	City Council	Referred for recommendation

  Agenda Text

title

Requesting an appropriation of $1,300,000 from the Sewer Enterprise Retained Earnings Account to the Sewer Capital Stabilization Fund.

body

Official Text

To the Honorable City Council:

I respectfully request an appropriation of $1,300,000 from the Sewer Enterprise Retained Earnings Account certified as of July 1, 2021 to the Sewer Capital Stabilization Fund. The purpose of the appropriation is to build reserves for the Water-Sewer Capital Improvement Program.

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

Respectfully Submitted,

Katjana Ballantyne, Mayor