Monroe committee clarifies fund-balance rule, keeps 25% target
The Finance and Taxation Committee approved a clarification to Section 5.8 of the comprehensive finance policy that retains a 25% fund-balance target but specifies it applies to operational expenditures and excludes debt service and capital outlay; the final figure will be confirmed after the audit.
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The Finance and Taxation Committee of the City of Monroe approved a clarification to Section 5.8 of the city's comprehensive finance policy that keeps the existing 25% fund-balance target but narrows how the target is calculated.
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