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Commission examines updated financial integrity principles and a proposed emergency reserve
Summary
City staff proposed updates to Fort Lauderdale’s Financial Integrity Principles, including an Emergency Reserve Fund seeded with $4.8 million of PFAS-related one-time funding and a recommended target of three months of operating expenses; commissioners debated reserve size, reporting deadlines and process improvements to shorten ACFR timeliness.
City budget staff presented proposed amendments to Fort Lauderdale’s Financial Integrity Principles, including a new section establishing guardrails for a recommended Emergency Reserve Fund and updated reporting schedules.
Keith Farrell, assistant budget manager, said staff proposes maintaining a minimum emergency reserve equal to 1% of general fund operating expenses, seeding the reserve in FY26 with a $4.8 million PFAS allocation, and allowing…
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