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Commission lowers formal general-fund target from 90 to 70 days and adopts a multifund reserve approach
Summary
Staff presented a multi-year financial forecast and proposed changing the general fund balance policy from 90 to 70 days while creating a multifund capital/economic-development reserve (assigning some days to a bridge fund reserve). The commission approved the policy changes, which staff said free funds for capital and incentive priorities while keeping resilience.
Finance staff presented a five‑year forecast showing continuing revenue growth driven by property value increases and steady sales-tax gains. Staff proposed four policy changes: reduce the general fund balance requirement from 90 to 70 days; create a bridge‑fund reserve to protect operating transfers;…
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