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City general fund reserves nearly four times policy minimum, staff says
Summary
A staff member told meeting attendees that finance has fixed a process error and that the city’s general fund reserves are nearly four times the minimum required by city policy; no formal action or figures were provided.
A staff member said during the meeting that the city’s general fund reserves are nearly four times the city’s minimum policy requirements and that finance staff “have already fixed the process to prevent similar issues from happening again in the future.”
The statement underscored the city’s fiscal cushion and pointed to planned initiatives. “Our general fund reserves are nearly 4 times that of the city's…
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