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• <br />City of Falcon Heights <br />Reserve Policy <br />September 10, 2003 <br />A. Purpose <br />The city will maintain reserves sufficient to provide stable funding for city <br />services, to provide working capital for maintaining infrastructure and capital <br />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 state statute <br />(principally TIF and Bond Funds). <br />• The city will strive to maintain a total reserve equal to 75% of the average of the <br />previous five-year's actual total expenditures, including capital projects. <br />The reserve will be distributed among the Funds to meet cash flow needs and in <br />anticipation of future expenditures. <br />The city will address an excessive or a deficient reserve on a rolling four-year <br />basis. <br /> <br />SEPT10 AGENDA.doc <br />