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Severance Fund - $130,107 <br />The Severance Fund is a restricted use fund that provides funding for employee <br />personal leave and comp -time severance pay upon their termination of employment with <br />the City. The City's General Fund liability for 2008 totaled $609,318, the Water/Sewer's <br />liability totaled $77,302 and the year-end liability for Liquor Operations totaled $38,102. <br />Since it is unlikely that all employees would leave the City at the same time, the fund <br />balance is deemed adequate to fund annual costs for the following year's potential <br />liability/payments. <br />110 <br />