Finance outlines $101.1M short-term note budget adjustment; council told AEDs and donation match included

Finance staffer Jim described a package of supplemental appropriations: two small additions to the police fund — a $500 donation match for safety supplies and $19,200 to buy eight AED units for police cruisers — and a large $101,110,840 increase tied to issuing short-term debt to bridge previously planned long-term financing.

Jim explained the interim notes will increase both expenses and revenues in the budget by roughly the same amount, producing a net wash: the increase pays issuance costs and allows the city to reissue short-term notes now and pursue long-term issuance in November when market conditions may be more favorable.