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• Reduce the reserve level to the maximum of 30 percent level and authorize the <br /> use of up to $1.0 million from the Rainy Day Fund toward a project included in <br /> the above noted priority projects list. <br /> • Reduce the reserve level to the maximum of 30 percent level and authorize the <br /> use of up to $1.0 million from the Rainy Day Fund toward a Capital Improvement <br /> Projects Reserves (CIP Reserves) to be allocated as needed during the year for <br /> the completion of a project phase/milestone within the above noted priority <br /> projects list. <br /> FY 2022/23 Percent of <br /> Mid-Term Budget Operating <br /> Total General Fund Reserve $40,009,121 30.0% <br /> For Council's future consideration, analysis and allocation of the Rainy Day Fund and <br /> CIP Reserves will be incorporated into the upcoming two-year budget cycle during <br /> spring 2023. <br /> The attached resolution, if adopted by City Council, will approve the Mid-Term <br /> Operating Budget and CIP and, if approved, staff will move forward with working on <br /> those projects funded in FY 2022/23. <br /> Submitted by: Approved by: <br /> Mahin Shah Gerry Beaudin <br /> Interim Director of Finance City Manager <br /> Attachments: <br /> 1. FY 2022/23 Mid-Term Operating Budget and Capital Improvement Program <br /> Resolution <br /> 2. City of Pleasanton FY 2022/23 Mid-Term Update <br /> Page 4 of 4 <br />