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4 Internal Services Funds — Equipment Replacement <br /> The City would utilize these reserves to replace vehicles and equipment severely <br /> damaged in a natural disaster The proposed 15% of the operating budget reserve <br /> target for each fund should be sufficient to provide the City with a means to address <br /> at least some of the immediate equipment and vehicle replacements in the event <br /> of a natural disaster <br /> Each category has a proposed minimum, target and maximum reserves The proposed <br /> policy also identifies where amounts in excess of the maximum reserve shall be <br /> deposited Finally, the proposed policy authorizes the City Manager to appropriate from <br /> the reserve funds to respond to an emergency situation that the City Council would ratify <br /> at the next available City Council meeting <br /> Sub fitted by Approve by <br /> / <br /> Tina Olson Nelson Fialho <br /> Director of Finance City Manager <br /> Attachments (1) Proposed Reserve Policy <br /> (2) Application of Proposed Reserve Policies to the City's Funds <br /> Page 3 of 3 <br />