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Raymore staff proposes cutting restricted reserve to 17.5%, freeing funds for roads
Summary
City staff told the council on Aug. 4 that lowering the operating funds' restricted balance from 20% to 17.5% would free preliminary one-time dollars — about $361,000 in the general fund and roughly $52,480 in the parks fund — for projects such as roads while keeping a conservative reserve.
Mister Fearborn, a city staff member, told the Raymore City Council at its Aug. 4 work session that staff will bring a resolution next week to reduce the restricted fund-balance percentage across operating funds from 20% to 17.5%.
Fearborn said the 20% figure has been set by council resolution since 2016 and that the Government Finance Officers Association (GFOA) recommends general reserves in the 5–15% range depending on a municipality’s financial condition. "Every single year since 2016, we've withheld that 20%," he said. "For the last several years, as things have been going well ... I think I am comfortable recommending ... that we reduce that 20% to 17 and a half percent."
The reduction, Fearborn said, would increase available fund balance for one-time projects. Using preliminary numbers for the coming year, he said the general fund would have about $361,000…
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