fund balance policy

The purpose of this policy is to establish a fund balance/retained earnings policy tailored to the needs of the City to insure against unanticipated events that would adversely affect the financial condition of the City and jeopardize the continuation of necessary public services.  This policy will ensure the City maintains adequate fund balance/retained earnings and reserves in the City’s various operating funds to provide the capacity to:

(1) provide sufficient cash flow for daily financial needs,

(2) secure and maintain investment grade bond ratings,

(3) offset significant economic downturns or revenue shortfalls,  

     and

(4) provide funds for unforeseen expenditures related to

     emergencies.

Click here to view the Fund Balance Policy

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