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Council hears proposed comprehensive fund‑balance policy aimed at stronger reserves and bond‑rating stability
Summary
Finance staff proposed a new, more detailed fund‑balance policy that sets minimum reserves for the general fund, utility fund, drainage and enterprise funds, and establishes replenishment guidance if reserves fall below targets.
City finance staff presented a proposed comprehensive fund‑balance policy on Feb. 10 intended to strengthen reserves, improve transparency and support long‑range budget and bond‑rating objectives.
Lede: The draft policy recommends minimum reserves tailored to each fund type, rather than a single 15% guideline limited to the general fund. For the general and utility funds staff recommended conservative minimums equivalent to 33 days of expenditures (or 120 days of working capital in the presentation), drainage was proposed at a 90‑day reserve given capital project risk, and various enterprise/recreation funds were…
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