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V <br /> 1 1 If any unanticipated reductions in revenue are deemed to be recurring, adjustments <br /> should be made to the budget to reflect the new revenue expectations <br /> 2 Emergency For use to mitigate costs associated with unforeseen emergencies, including <br /> natural disasters <br /> 3 Enterprise Fund and Internal Services Fund Reserves shall only be used for unexpected <br /> expenses that would normally be paid by that fund For example, the Streetlight <br /> Replacement reserve may only be used in the event of an unexpected streetlight <br /> malfunction <br /> 4 The City Manager shall have the authority to approve the appropriation of Reserve <br /> Funds to respond to an emergency situation He or she will then take a resolution to the <br /> City Council at its next regularly scheduled meeting confirming the nature of the <br /> emergency and formally authorizing the appropriation of reserve funds If the General <br /> Fund reserve level falls below 20%, the City Council may restore funds over a multi- <br /> year period through establishment of a reserve recovery plan that would be adopted by <br /> City Council <br /> • Excess fund balance <br /> 1 Should actual reserve balances exceed the level required by the reserve policy at year's <br /> end, the surplus funds shall be deemed available for allocation for the following, subject <br /> to Council approval <br /> 1 1 Transfer to CIP Funds for appropriation for general capital needs and/or extensive <br /> maintenance projects <br /> 1 2 Re-appropriation within the subsequent year's operating budget to provide for one- <br /> time, non-recurring needs <br /> 2 Use of General Fund excess balance shall not be used for new recurring expenses <br />