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Council postpones vote on formalizing 20% general fund target after members seek more analysis
Summary
Council postponed a resolution to amend budgetary policies to change the general fund's fund balance policy (formalizing a 20% minimum) and requested additional financial analysis, peer comparisons and cost estimates before a final decision.
The City Council on Aug. 11 moved to postpone a resolution that would clarify and formalize the city's general fund balance policy to a single 20% target instead of a 17%–20% range.
Council members raised concerns about the fiscal impact and timing of the change. Councilman Gil Hernandez asked why the policy would remove a range and voiced concern that a fixed 20% minimum could reduce budget flexibility. Staff replied that recent practice has been to budget to 20% and that the proposed policy merely clarifies that practice. Heather Hurlbert, assistant…
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