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South Weber City adopts Financial Reserve Policy to guide fund targets
Summary
The council unanimously approved Resolution 25-30, adopting a Financial Reserve Policy developed by the Admin./Finance Committee and staff to align with state code and GFOA best practices and set target reserve levels for city funds.
South Weber City Council voted on Sept. 23 to adopt Resolution 25-30, a Financial Reserve Policy that sets target reserve levels for city funds and endorses practices recommended by the Government Finance Officers Association.
Councilman Wayne Winsor, who moved adoption, said staff and the Admin./Finance Committee drafted the policy to implement state code and GFOA best practices to improve fiscal resilience. "The policy specifically establishes target levels for specific city funds and promotes sound fiscal management, transparency, and resilience," the meeting record states. Councilman Jeremy Davis seconded the motion; a roll-call vote recorded Council Members Davis, Dills, Halverson, Petty and Winsor voting aye and the resolution carried.
The transcript records broad support and thanks to staff for preparing the document but does not include the policy text or the specific fund targets in the meeting record; staff follow-up would be needed to obtain the adopted policy language and numeric targets.
