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Financial advisers recommend raising county reserve policy to 13% and adding targeted reserves
Summary
Jennifer Derickson, senior vice president at Davenport, told the Government Operations and Fiscal Policy Committee that an updated reserve study recommends raising the county's reserve policy from 10% to 13% of adjusted governmental revenues by creating a 2% risk mitigation reserve and a 1% capital reserve.
Jennifer Derickson, senior vice president at Davenport, told the Government Operations and Fiscal Policy Committee that an updated reserve policy study finalized in March recommends increasing the county's policy level from 10% to 13% of adjusted governmental revenues by creating two new reserves and eliminating a mandatory annual contribution to the revenue stabilization fund.
The recommendation keeps the county's current combined target for the unrestricted general fund balance and revenue stabilization fund but replaces the mandatory…
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