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I 1.1. 1f any unanticipated reductions in revenue are deemed to be recurring, adj ustments should be made to the budget to reflect the new revenue expectations. 2. Emergency_: For use to mitigate costs associated with unforeseen emergencies, including natural disasters. .3. Enterprise Fund and Internal Services Fund Reserves shall only be used for unexpected expenses that would normally be paid by that fund. For example, the Streetlight Replacement reserve may only be used in the event of an unexpected streetlight malfunction. .4. The City Manager shall have the authority to approve the appropriation of Reserve Funds to respond to an emergency situation. He or she will then take a resolution to the City Council at its next regularly scheduled meeting confirming the nature of the emergency and formally authorizing the appropriation of reserve funds. If the General Fund reserve level falls below 20%, the City Council may restore funds over a multi- year period through establishment of a reserve recovery plan that would be adopted by City Council. Excess fund balance 1. Should actual reserve balances exceed the level required by the reserve policy at year's end, the surplus funds shall be deemed available for allocation for the following,subject to Council approval. 1.1. Transfer to the CII'Fund for appropriation for general capital needs and/or extensive maintenance projects. .1.2. Re-appropriation within the subsequent year's operating budget to provide for one- time, non-recurring needs including pre-funding the City's pension and retiree health liabilities. .2. Use of General Fund excess balance shall not be used for new recurring expenses. 3