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CC PACKET 04112000
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CC PACKET 04112000
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Last modified
12/30/2015 4:13:02 PM
Creation date
12/30/2015 4:12:44 PM
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SP Box #
17
SP Folder Name
CC PACKETS 1999-2001
SP Name
CC PACKET 04112000
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71 <br /> III. RESERVE POLICIES <br /> A. Purpose <br /> The purpose of the city's reserve funds are to provide 1) a stable <br /> funding source for expenditures that fluctuate significantly each year, <br /> i.e. equipment acquisitions and replacement, 2) working capital to <br /> maintain a sufficient cash flow, and 3) a stable or improved credit <br /> rating. <br /> B. Policy <br /> The city's goal is to maintain a general fund balance reserve of 45 <br /> percent of the general fund's total operating budget. Any surplus <br /> beyond the required general fund reserve will be transferred to the <br /> capital improvement funds to be used as determined by the five-year <br /> capital improvement plan. This transfer will be with city council <br /> approval. <br /> The city will maintain capital improvement fund accounts for the <br /> timely purchase and replacement of equipment in excess of $1,000 or <br /> lasting for three or more years as part of the five year capital. <br /> improvement program. <br /> City enterprise funds shall have operating cash reserves sufficient to <br /> provide for monthly cash flow, and for a reasonable level of equipment <br /> and infrastructure replacement. Major reconstruction or system <br /> upgrades, may need to be funded from enterprise revenue bonds. The <br /> city council will annually review enterprise reserves to determine <br /> adequacy and possible transfers to other funds. <br /> • <br />
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