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Lynchburg staff outline fund-balance policy, $28.3M unassigned projection and tradeoffs for FY26 capital decisions
Summary
At a May 6 work session, Lynchburg City Council reviewed the city's fund-balance policy and a proposed FY26 projection showing an 11.7% unassigned general fund balance ($28.3 million) and discussed tradeoffs between using those dollars for capital projects vs. preserving reserves.
At a May 6 budget work session, Lynchburg City Council reviewed the city's fund-balance policy, the FY26 proposed unassigned general fund balance projection and how one-time funds could be applied to capital projects or maintenance.
Staff explained the city's financial policy: “The city will maintain an unassigned general fund balance equal to a minimum of 10% of general fund revenues with a goal of 15% as the city strives to grow incrementally each year subject to revenues available,” a staff presenter summarized. The city's proposed FY26 budget shows a projected unassigned general fund balance of about 11.7% of revenues, or $28,300,000, with $9,000,000 of that forecasted as…
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