Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Philomath committee backs reserve-fund policy, removes new RFE requirement for certain funds
Summary
The Finance & Admin Committee recommended the city present a new fund-balance and reserve policy to council, including a new "reserve for future expenditures" line for the general fund and removal of the RFE calculation for self‑supporting and transfer‑supported funds.
The Philomath Finance & Administration Committee voted to forward a new fund-balance and reserve policy to the full council after refining treatment of reserve accounts and removing a proposed reserve-for-future-expenditures (RFE) calculation for certain funds.
Staff introduced the policy as part of the city’s strategic plan, describing three distinct fund elements: an unappropriated ending fund balance, an annual contingency for general operations, and a new RFE line intended as a savings account for planned future purchases. The presenter said the RFE would allow the city to earmark funds for items…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
