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Council reviews policy options for policing and fire reserves on city financial statements
Summary
Finance staff proposed removing department‑level ‘committed’ reserve labels for police and fire on the city’s financial statements because projected revenues do not fully cover those departments’ appropriations; councilors discussed risks and agreed staff should return with refined recommendations.
City finance staff presented draft financial‑statement guidance Aug. 18 that would change how certain general‑fund balances are categorized on the city’s financial statements. One element under discussion was whether to continue showing police and fire department fund balances as separately committed (restricted) on the balance sheet when those departments’ appropriations exceed the dedicated revenue that supports…
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