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LAFCO adopts 15% minimum reserve policy for general fund amid implementation caveats
Summary
The commission adopted a reserve policy requiring LAFCO to hold at least 15% of its annual LAFCO budget (or enough to cover departing staff severance pay), clarifying the policy covers the general fund and not the CCA special fund. Staff estimated the current reserve near $300,000.
The Local Agency Formation Commission adopted draft reserve policy language that sets a minimum reserve equal to 15% of the annual LAFCO budget or enough to cover departing staff severance pay, whichever is greater.
Jason Fried, LAFCO staff, said the agency had drawn down a once-larger reserve and that the draft policy helps set a future floor as funding…
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