RES 97057 - Laserfiche WebLink

B,D. RESERVE POLICIES · The City will establish, dedicate and maintain reserves annually to meet known and estimated future obligations. · The City will establish Specific Reserve Accounts which include but are not limited to ~ designated reserves for the following: Operating reaer,'e Reserve for Economic Uncertainties equal to 10% of · h ......,; .......'~;*,,~'~ General Fund revenues. Totally funded workers compensation Liability insurance Estimated cost of retirees medical payments Depreciation and replacement of vehicles and major equipment Major maintenance and renovations of buildings, .... ~ ....... +~-- "- parks, and landscape maintenance. The City will establish reserves for replacement of facilities and infrastructure. The City will establish reserves for cash ~ow purposes. C~.E. EXPENDITURE AND BUDGETING POLICIES · The operating budget (with t,he exceptia:: of ente.T~ae fu::ds) will be prepared to fund current year expenditures with current year revenue. However, surplus fund balances may be used to increase reserves, fund Capital Improvement Projects, or be carried forward to fund future years'operating budgets when necessary to stabilize services and fund capital outlay. The City will deliver service in the most cost effective manner, including utilizing the services of volunteers in areas where it is economically viable. The budget will state the objectives of the operating programs, and identi~ the service and resources being provided to accomplish the specified objectives. o The budget willfully account for and apportion all costs, fees, and General Fund transfers associated with the Enterprise Funds. · Department expenditures are limited to: Budgeted expenditures approved by the City Council as appropriated by major category: Employee Services; Transportation and Training