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03-19-18-WS
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03-19-18-WS
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3/16/2018 1:58:49 PM
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Water Utility –Impact of Low Cash Balances <br />•Fund Balance Policy: <br />–Similar to the General Fund, we recommend the City adopt a minimum fund <br />balance policy <br />–Provides a cushion, should revenues fall below projections <br />–Enterprise funds should be self-supporting <br />•Provides funds for internal borrowing, if needed <br />–Ensures sufficient funds on hand in case of disaster or other emergency <br />•Rating Agencies: <br />–Like to see long-range planning by cities <br />•Do not like to see cash balances declining in future years <br />–Like to see sufficient cash balances to ensure annual debt service <br />payments can be repaid without tax levy <br />–Low or negative cash balances can impact bond rating <br />–Current rating by S&P is AA+ <br />7
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