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Chattanooga budget working group backs 20%–30% reserve framework, debates higher floor
Summary
The working group advanced four updated financial policies — including a recommended 20%–30% fund-balance range — and agreed to place them on the council agenda; members debated whether a 24% floor better protects the city, citing a GFOA analysis.
The Chattanooga budget working group on Thursday moved to place updated financial policies on the council agenda, recommending a target fund-balance (reserve) range of 20% to 30% of general operating revenue.
Chair opened the discussion by asking staff to present the revised policies and asked the council at the end for a recommendation on next steps. Weston, who led the presentation, said the reserve recommendation grew from a Government Finance Officers Association (GFOA) analysis and internal modeling that showed a roughly 24% reserve would provide about an 80% confidence level of not falling…
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