Montesano approves financial policy to increase reserves

The City of Montesano has set policy that will help provide financial reserves into the future.

At their meeting Tuesday night the passed a resolution adopting a financial policy for the city that, along with other issues, addresses building the city’s reserves.

Mayor Vini Samuel says the goal is to build a reserve that would be enough to keep the city operating for three months and the financial policy provides guidelines for the future.

Samuel spoke about the city’s finances when she started as mayor and how they aim to make it better by giving clear instructions for future councils.

In the past four years the average three month expenditures is over $550,000.

The policy also lists additional reserves of over $200,000 for a total of $755,409.

Samuel says they are still working to try and build the reserves to that total but she says they have made significant progress from March of 2016.

The financial policy resolution was passed unanimously.

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