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OC Council Transfers $6.9M From Growing Unassigned Fund Balance

November 30, 2023

Ocean City officials voted this week to transfer $6.9 million from its unassigned fund balance. On Tuesday, the Ocean City Council voted unanimously to transfer $6,943,000 from its unassigned fund balance to three reserve funds, a risk retention fund and a vehicle trust fund. City Manager Terry McGean said the transfers would put Ocean City in a better financial position in the coming years.

Article Source: MD Coast Dispatch

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