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<br />GFOA and leMA argues for planned <br />reserves for the following reasons: <br /> <br />. Revenue timing for property taxes <br />· Collection cycles for other funds to cover negative <br />cash flow <br />. Eliminate short-term borrowing for operations <br />· Reduce capital borrowing- <br />- spread costs to beneficiaries <br />. Smooth out tax rates <br />· Generate interest earnings <br />· Contingency for unanticipated events <br /> <br />$pflnqsted <br /> <br />Recommendations <br /> <br />. Refresh fund reserve goals for each operating fund in the <br />City <br />- keeping in mind cash flow, revenue stream cycles, <br />contingency and capital replacement <br />. Continue strategic planning efforts currently underway as <br />planning is critical to success <br />. Develop plans to meet goals and policies established <br />- Eliminate fund deficits <br />. Consider tax base and per capita income growth strategies <br />. Create flexibility and back-up plans for specific risks <br /> <br />Sprinqsted <br /> <br />14 <br />