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4. The use of reserves shall be approved by the City Council through a resolution or <br /> budget adoption. The City Manager shall have the authority to approve the <br /> appropriation of Reserve Funds to respond to an emergency situation. The City <br /> Manager will then take a resolution to the City Council at its next regularly scheduled <br /> meeting confirming the nature of the emergency and formally authorizing the <br /> appropriation of reserve funds. <br /> Replenishment of Reserves <br /> If the General Fund reserve level falls below 16.7%, the goal is to replenish the reserve <br /> within three fiscal years. For the Water and Sewer Enterprise Fund reserves, if either <br /> reserve level falls below 30.0%, a rate study will be required to be completed in 12 <br /> months or less that provides a roadmap to replenish the impacted reserve over the next <br /> three fiscal years. <br /> Excess Fund Balance <br /> If actual reserve balances exceed the level required by the reserve policy at year end, <br /> the surplus funds shall remain in the reserve until allocation by the City Council for the <br /> following purposes: <br /> 1. Transfer to the CIP Fund for appropriation for general capital needs and/or <br /> extensive maintenance projects. <br /> 2. Re-appropriation within the subsequent year's operating budget to provide for <br /> one -time, non-recurring needs including pre-funding the City's pension and <br /> retiree health liabilities. <br /> 3. Use of General Fund excess balance shall not be used for new recurring <br /> expenses. <br /> Annual Reporting and Periodic Review <br /> The Finance Director shall report the year-end budgetary fund balance to the City <br /> Council as part of the annual budget report. The reserve policy shall be reviewed <br /> annually, and modifications are subject to Council approval. <br /> City of Pleasanton Reserve Policy 3 <br />