Boca Raton council raises minimum reserves, adds retirement sustainability reserve

The Boca Raton City Council on Sept. 8 approved Resolution 107-2026 revising the city’s fund balance and reserve policy to increase the unassigned fund balance minimum from 10% to 17% and to set a 10% emergency reserve. The measure also creates a retirement sustainability reserve within the general fund and extends a 17% minimum balance approach to enterprise net position accounts. Jim Zervis, the city’s deputy city manager and chief financial officer, described the changes as an update to align local practice with generally accepted accounting principles and Government Finance Officers Association best practices.