title
PROPOSED RESOLUTION
A RESOLUTION COMMITTING CERTAIN CITY FUND BALANCES BY ESTABLISHING A RESERVE POLICY FOR CERTAIN FUNDS
body
This resolution sets the unassigned fund balance at a minimum of 35 to 50 percent of General Fund Operating revenues for minimum cash flow purposes. This resolution also sets the purpose and use of the many fund accounts that the City uses to operate in accordance with general accounting standards and the State Code. The resolution also sets the other fund balances such as minimum and target reserves for Enterprise funds, $250,000 for Property Casualty, $150,000 for the Workers Compensation fund and $250,000 for Data Processing.
recommendation
City Administrator Recommendation: City Council Adopt Proposed Resolution No. 36-24.