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POLICY 4 <br />9/10/02 <br />ITEM: Reserve Policy <br />SUBMITTED BY: Council member Lamb <br />REVIEWED BY: Council and Staff <br />EXPLANATION: <br />Summary: At the beginning of the budget sessions this year, the Council decided to draft a <br />reserve policy to guide budgeting and spending decisions in future years. <br />During the last budget workshop on September 3, the Council finalized the following policy. <br />The policy has been used to formulate the 2004 Budget, which will be considered at a future <br />council meeting this Fall. <br />The policy is a guiding document, and can be amended at any time by council action. <br />ATTACHMENT: <br />• Reserve Policy <br />ACTION REQUESTED: <br />• Discussion <br />• Adoption of Reserve Policy <br />• <br />SEPT10 AGENDA.doc <br />