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• <br />DRAFT <br />City of Falcon Heights <br />Reserve Policy <br />September 10, 2003 <br />Amended 9/05 <br />A. Purpose <br />• The city will maintain reserves sufficient to provide stable funding for <br />city services, to provide working capital for maintaining infrastructure <br />and capital assets, and to secure a high credit rating. <br />B. Policies <br />• • The city will hold no more of the taxpayers' money than is necessary. <br />• The city will maintain specified Fund reserves at the level required by <br />state statute (principally TIF, Debt Service and Bond Funds). <br />• The city will strive to maintain a total reserve equal to 75% of the <br />average of the previous five-year's actual expenditures, including <br />general, capital, enterprise and special revenue funds. <br />• The reserve will be distributed among the Funds to meet cash flow <br />needs and in anticipation of future expenditures. <br />• The city will address an excessive or a deficient reserve on a rolling <br />four-year basis. <br />• <br />