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1 <br />I <br />a <br />A& <br />Purposes & Benefits <br />of Reserves <br />Purpose of Reserves <br />Cash flow timing differences <br />Intergovernmental revenue cutbacks <br />Capital outlay replacement <br />t� <br />ex, �-- iL <br />Benefits of Reserves <br />Favorable bond rating <br />Higher investment earnings <br />Provides resources for minor projects or <br />feasibility reports <br />Avoids temporary overdrafts prior to <br />major receipts <br />Emergency or unanticipated - Allows time to study effects of revenue <br />expenditures cuts <br />Avoids overburdening of annual budgets <br />Special Cit Council projects for certain capital outlay <br />p y p _ Provides the City greater options to deal <br />with unexpected events <br />Unfunded mandates <br />smithschafer.com <br />ZSMITH �SCHAFER <br />� AYES LTV <br />C4,1"Ied Paw7c •ocemitt o and Coeauttams <br />4 W <br />EARS <br />t1971 <br />14 <br />