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Flood recovery uncertainty leaves Snoqualmie reserves below target without federal reimbursements, staff says
Summary
Deputy Finance Director Jen Hughes reported that if the city recovers estimated federal reimbursements reserves would be about 14.2% of ongoing general fund expenditures (target 15%); without federal recovery reserves could fall to about 11.7%, widening the shortfall and complicating this budget year.
Deputy Finance Director Jen Hughes told the Finance & Administration Committee on Feb. 23 that there were no new developments to report on flood recovery but offered updated estimates on the city's reserve position.
Hughes said, with the reserve target at 15 percent, "If we recover the estimated…
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