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Hendersonville committee amends fund-balance policy to cover special-revenue funds; resolution passes unanimously
Summary
The Finance Committee approved an amendment to the city's fund-balance policy to require a two-month (16.67%) operating reserve for special-revenue funds including State Street Aid, stormwater and hotel/motel funds; the resolution passed unanimously.
The Hendersonville Finance Committee voted unanimously to approve an amendment to the city's fund-balance policy that adds a requirement for certain special-revenue funds to hold a two-month operating reserve (16.67%).
The amendment, offered as reading of resolution 2025-34, clarifies that the reserve target applies not only to the general fund but also to designated special-revenue funds such as State Street Aid, stormwater and the hotel/motel fund. "This amendment to the fund balance policy is really clarifying and adding a section that's specific to our special revenue funds," said Jamie, a staff member presenting…
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