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Budget workshop: Fraser shows roughly $10.3M year‑end general fund balance; industrial park road bond and pension liabilities singled out
Summary
City staff presented a budget preview showing an estimated general fund balance of about $10.3 million at fiscal‑year end, a recommended reserve target of roughly 25% of expenditures, and highlighted a planned industrial park roads project (roughly $16M) that will be funded by a mix of bonds, state funds and a special assessment district (SAD).
City staff presented a budget pre‑planning overview at a Feb. 13 budget workshop that showed a projected general fund balance of approximately $10.3 million at the end of fiscal 2024–25, with a recommended reserve equal to about 25% of annual expenditures.
Finance staff (Angelique) and City Manager Rob Levin briefed council on major fiscal items the budget team will address in the coming months: a projected general fund balance of $10.3 million and combined other‑major fund balances around $22.4 million, pension liability of roughly $30 million (pension funded at about 60%) and an OPEB (other post‑employment benefits) liability near $26 million (about 5% funded). Staff recommended targeting a…
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