THAT Report 25-014-CRS 2024 Year End Operating Update be received;
AND THAT the tax-supported and water utility operating budget variances for the December 2024 reporting period, as outlined in report 25-014-CRS, be approved;
AND THAT the tax-supported operating surplus of $3,062,493 be allocated in the amount of $1,531,247 to the Rate Stabilization Reserve, $510,247 to the Capital Works Reserve fund to reduce the debenture funding to capital project A/00420-40 Preston Auditorium Expansion Construction, $571,000 to the Infrastructure Renewal Reserve Fund, and $450,000 to the Election Reserve;
AND THAT the water surplus of $2,356,004 be transferred equally to the Water Rate Stabilization Reserve Fund and the Water Capital Reserve totaling $1,178,002 respectively;
AND THAT the wastewater surplus of $3,255,245 be transferred to the Wastewater Rate Stabilization Reserve Fund and Wastewater Capital Reserve for $492,264 and $2,762,981, respectively;
AND THAT the Cambridge Public Library surplus in the amount of $96,402 be transferred to the City Rate Stabilization Reserve;
AND THAT the Year End Operating Surplus Allocation Policy, as amended, as per Appendix C to report 25-014-CRS be approved;
AND FURTHER THAT the transfers to and from the reserve funds as outlined in Appendix A to report 25-014-CRS be approved.