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City staff present reserve-policy goals; council schedules special budget session for Sept. 30
Summary
City staff presented a draft reserve policy and timeline for the budget; the council agreed by consensus to a special call meeting immediately after the election canvass on Sept. 30 to finalize the budget.
City staff presented a draft financial-reserve policy and a timeline for finalizing the fiscal-year budget and the council agreed to a special call meeting immediately after the election canvass on Sept. 30 to continue budget work. City staff said the policy is intended to set clear financial priorities, strengthen internal controls and remove audit exceptions so that the city can better plan for future challenges. "You gotta build our reserve," the presenter said when describing the policy's goals. The draft sets a minimum target of 30% of annual expenses for the General Fund and recommends a…
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