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Jones to ask Council to appropriate rainy day funds

By STEVEN MURREY
ELWOOD – Mayor Todd Jones plans to ask the City Council to appropriate funding reserves to the city’s rainy day fund, an email to the Call-Leader stated.
Jones said he is hard at work on the 2021 State of the City address, to be delivered at an upcoming City Council meeting.
“Our city is on strong financial ground, and is in one of the best financial positions the city has seen,” stated Jones. “We have established a strong financial plan thanks to the hard work of Madam Clerk Roby, our department heads and city employees, the City Council and the Board of Works.”
Jones referenced a public legal noticed published in the Call-Leader detailing the city’s cash and investments, as required by law. According to the notice published in the March 1 edition of the Call-Leader, the City reported $77,824.28 in the rainy day fund beginning Jan. 1 and $1,506,250.85 in the city’s general fund beginning Jan. 1. By Dec. 31, 2021, the general fund had a balance of $1,959,105.96.
“I will be approaching the City Council to appropriate some of the reserves from being fiscally responsible into the rainy day fund.”
Clerk-Treasurer Roby said the city has surplussed $621,483 in the past six years, not including grants or donations.
Jones went on to state he plans to provide additional updates on multiple projects after finalizing the State of the City address, and that he will issue similar statements for future allocations to the rainy day fund.