HomeMy WebLinkAbout(1994, 01/24) - F-2 - Adopted (Reserves/Designations of Fund Balance) - combining F-3, F-5 and F-8 (and part of F-4)F -2
RESERVESMESIGNATIONS OF FUND BALANCE
11 Oi.
To establish the policy for the reserve or designation of fund balance for the
City's funds as required.
POLICY.
General Fund Stabilization Reserve - The City Council has determined that a
Stabilization Reserve be created and' that the balances in the Stabilization
Reserve shall be maintained with ,,not less than ten percent (10 %) of the
appropriation budget total within' the General Fund of the City's annual
approved budget
Said Reserve will not be a linevitem appropriation, but is to be a designation of
General Fund Fund Balanc that may be used at the discretion of the City
Council for emergencies or unanticipated expenditures.
Future Wafer Sources - $100,000 per year from water revenues shall be set aside
for study and /or acquiskion of future water sources. See also Policy M - 5.
Wafer Quality - $200,600 per year from water revenues shall be set aside for
water quality. See also Policy M - 5.
Wafer Wells and Tfansmission - $1,000,000 per year from water revenues shall be
set aside for a water well and transmission project See also Policy M - 5.
Sewer System Reserve - The capital improvements and annual operating cost of the
sewer system will be financed by a sewer use fee.
A Sewer Plogram Reserve is established to level fluctuations in the sewer use fee
caused by extraordinary expenses. This reserve is to be funded by the sewer use
fee at a level of $150,000 per year to a maximum of $1,200,000.
Adopted January 24, 1994
Formerly F -3, F4, F-5