Agenda Summary
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Requesting approval of a transfer of $2,110,472 from the Salary Contingency Account-Salaries to the Salary & Wage Stabilization Fund.
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Official Text
To the Honorable City Council:
The Mayor respectfully requests that this Council transfer $2,110,472 from the Salary Contingency Account-Salaries to the Salary and Wage Stabilization Fund.
The amount of $2,110,472 is the estimated balance in the General Fund Salary Contingency Account as of June 30, 2024. This transfer preserves these funds in the Stabilization Fund for future collective bargaining settlements and various other 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