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Finance committee approves new fund-balance guidance, recommends village board adoption after brief edits
Summary
The Waunakee Finance Committee voted 6-1 to recommend revisions to the village fund-balance policy that would direct excess reserves above 30% of the budget to the equipment replacement fund and allow amounts above 25% but below 30% for one-time uses or one-time property-tax relief with board approval.
The Waunakee Finance Committee voted to recommend that the Village Board adopt revised fund-balance policies that clarify how year-end surpluses should be used.
Renee (Finance Director) proposed keeping the unassigned fund balance floor at 20%–25% of the next year's expenditure budget and adding guidance for how to treat amounts in excess of that range.…
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