APPRO-2025-18 : An Appropriation from Free Cash (account 01-324001) in the amount of $750,000 to Capital Stabilization (Fund #8405).

Transcript (~2 min @ 1:22:18)

Speakers identified by voice; unnamed voices are numbered within this recording. Auto-caption text — verify against the video.

▶ 1:22:14 Mark Garipay: I'll be recommended to the full counsel. Next up is ID 1 2 5, 9 1 in appropriation of free cash account 0 1 3 2 4 0 0 1 in the amount of 750,000 to Capital stabilization Fund. 8 4 0 5.

▶ 1:22:30 Jen Grigoraitis: Thank you Chair. So this, um, as Ms. Golden had mentioned, we, you know, wanna be sure to be put a portion of our free cash into stabilization accounts. The two we wanted to prioritize in our first, um, round of request to you all were the special ed that we just talked about in capital stabilization. As you are all well aware, there is no capital maintenance line in any part of the city budget. So we rely on this fund when we are outside of the free cash window for any unanticipated costs. I know you most recently had a request to fix, um, a circuit breaker at the middle school, so that account balance hovers in the several hundred thousand

▶ 1:23:04 Speaker 1: Five hundred seventy eight seven hundred and fifty $4.

▶ 1:23:08 Jen Grigoraitis: Yeah. And as you heard from Mr. S Mulligan, we are seeing escalation in costs and unpredictability in providing quotes around all items given the climate around tariffs. So we wanna be prepared that once we, you know, are done with free cash in June of this year, that we are really in a funding de, you know, desert until free cash comes back next year. And as you are all well aware, we anticipate less free cash next year because we budgeted a higher amount of local seats last year to help close last year's budget gap. So we really wanna be prepared because obviously when there are critical capital needs, we can't just let everything sit.

▶ 1:23:43 Speaker 6: I am a ray of sunshine, as you can tell.

▶ 1:23:47 Speaker 5: Any questions from the council? Motion

▶ 1:23:50 Speaker 4: To recommend?

▶ 1:23:53 Speaker 6: Second,

▶ 1:23:55 Mark Garipay: Uh, motion to Recommend by council. Uh, cache seconded by Councilor Williams on discussion. I have one quick question. What I, what was the total balance? If this, if this goes through, what's the total balance gonna be?

▶ 1:24:08 Speaker 1: If this Passes? It will be 1,328,754.

▶ 1:24:14 Mark Garipay: Thank you. Mm-hmm. Uh, anyone else on discussion?

▶ 1:24:18 Speaker 5: Mme. Clark, can you please call the role?

▶ 1:24:22 Speaker 1: Yes. Councilor Op Piero? Yes. Councilor Hamilton? Yes. Councilor Karen Chetty? Yes. Councilor Reky? Yes. Councilor Romanul? Yes. Councilor Stewart? Yes. Councilor Vandiver? Yes. Councilor Williams? Yes. President Ley? Yes. Chair Gareg? Yes. Motion passes.