At last night’s Athens City Council meeting, city auditor Kathy Hecht proposed the creation of a debt and fund balance policy to ensure the payment of bills in the first month of each calendar year.
The policy would serve as a cash reserve that would cover the first month of the following fiscal year. Over the course of each year, a certain amount of funds will be set aside in order to meet this requirement.
Council, however, was not ready to commit to such a plan.
“It’s so hypothetical,” said Councilwoman Nancy Bain, adding the plan would restrict the use of the city’s funds given pressing financial situations.
“I just don’t think it’s the right time,” she said.
Despite skepticism, further discussion prompted future talks in terms of creating such a plan.
“I support the idea of a standardized policy,” said Councilwoman Chris Knisely.
