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Bloomington Accumulates $3.9 Million In Unspent Funds

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The City of Bloomington has accumulated  3.9 million dollars in unspent funds from last year,  and officials are now making plans for how to spend about two-thirds of that money. City Controller Jeff Underwood has requested that  2.7 million of the savings, or reversions,  be appropriated for projects across a wide range of city departments. In a City Council meeting last week, Underwood said the largest chunk — $1.783 million —  will be spent on equipment.

The reverted monies will pay for more than trucks and vans.  The appropriation request also includes funding for a variety of projects including a parking study, a salary study, updating the Unified Development Ordinance,  parks equipment, and Arts grants.  The appropriation includes a request from Mayor Hamilton’s administration for an architect. Council member Chris Sturbaum asked Underwood to explain.

Underwood said a team is already interviewing architecture firms. Because the city has a wide range of needs, Underwood said the allocation provides for retaining  more than one architecture firm in an effort to get a range of expertise. Eighty-thousand dollars of the reverted money will go toward  a comprehensive parking study requested by the Mayor’s Office and the Parking Commission. Half the cost of that study will come from funds generated by parking meters. Underwood said  $1.2 million of the savings is yet to be allocated. He  expects to come back to the council in August with another funding request for equipment replacement. Underwood also noted the importance of holding on to some of the reverted money. He says even if the additional appropriations are approved, city will maintain almost five months of funding in reserve.

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