Oro Valley has a contingency fund. The purpose of such reserves are: "...to offset difficulty economic times, stabilize fluctuations in cash flow requirements, provide for emergency situations threatening the public health or safety and provide for unanticipated increases in service delivery costs, unanticipated declines in revenues, unanticipated opportunities and contingencies... reserves should be used only after all budget sources have been examined for available funds and subject to Town Council approval."(Source: Document Page 36 )
You can imagine that these fund should be used for extraordinary measures: Threats to public health and safety being the primary focus. This is not the case. Historically, this fund has been used for ongoing expenditures and "special investments":
- $1.05 Million was used in 2011 for Energy efficiency upgrades
- $410,000 was used in 2010 for Steam Pump Ranch
- $600,000 was used in 2009 and 2010 for services related to Arroyo Grande
This year, $300,000 was used to fund the town's new health care self-insurance fund. $524,000 was invested in the Oro Valley Aquatic Center construction cost overrun. (Our Report)
Does using $2.1 million the contingency funds to pay for the under-grounding of TEP wires constitute a reasonable use of such funds in light of the funds purpose and its historical use?
Tonight at 6PM in council chambers is your opportunity to give your opinion to Town Council. They are looking for your input at this special session. It's your chance to let them know how you feel. Don't pass up the opportunity.