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• Reserve Levels and Establishment .1. General Fund Reserve:The City shall maintain an unappropriated General Fund operating reserve of between twenty percent(20%) to thirty percent(30%) of annual General Fund operating expenditures.The target level for the reserve is twenty-five percent(25%). .2. Enterprise Fund Reserves: The following enterprise funds require a reserve of between thirty percent(30%) and forty percent(40%) of the previous year's operating expenditures for each fund: Water and Sewer.The target level for these reserves is thirty-five percent (35%). .3. Internal Services Fund Reserves:The following Internal Services Funds require a reserve of between thirty percent(30%) and forty percent (40%)of the previous year's expenditures with a target of thirty-five percent(35%)for each fund: • Streetlight Replacement • Traffic Signal Replacement • Facilities Renovation,and Park&Median Renovation .4. Internal Services Fund Reserves: The following Internal Services Funds require a reserve of between thirty percent(10%)and forty percent(20%)of the previous year's operating expenditures with a target of thirty-five percent(15%)for each fund: • Equipment Replacement • Livermore Pleasanton Fire Department Apparatus Replacement • Police Vehicle Replacement .5. An appropriated fund(e.g. a Capital Improvement Program reserve made for the purpose of repairing,replacing,and procuring City assets)may be created and developed as necessary by the City Manager or his/her designee. • Use of Reserve Funds .1. Economic Uncertainty: For use to mitigate annual revenue shortfalls(actual revenues less than projected revenues)due to a temporary slowdown in general economic conditions as well as a short-term reduction in revenues caused by actions of the State or Federal government. 2