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Cloverdale staff warn of falling reserves; council reviews proposed small capital and program budget amendments
Summary
Finance staff warned that Cloverdale’s unassigned general‑fund reserves are projected to decline over the next two fiscal years and presented proposed budget amendments, largely funded from impact fees and existing grants, for council review.
Finance staff reported that a one‑time surplus in fiscal year 2023–24 left the general fund in healthy position, but budget projections show declines through fiscal 2025–26 that could push unassigned reserves below the municipality’s policy threshold.
The city’s finance director reported the general fund closed 2023–24 with about a $1,000,000 surplus; staff projected a $1,600,000 reduction in unassigned reserves for 2024–25 and an additional $809,000 reduction in 2025–26…
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