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Longview council weighs raising minimum general‑fund reserve to 15%
Summary
Finance staff told council that a 15% reserve target aligns with GFOA guidance and supports the city's AA rating; staff said Longview’s current fund balance would meet the target and leave several million above the minimum.
Finance staff told the Longview City Council on Thursday that raising the city’s minimum general‑fund reserve to 15% would align with recommended practice and help protect the city’s credit rating.
Angela Cohen, the city’s director of finance, said the Government Finance Officers Association recommends holding cash to protect against revenue declines and emergencies and that credit rating agencies…
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