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Essentially, the Commission is asking the Council to consider removing the reference to the ‘tax- <br />35 <br />supported’ funds since there are a couple of operating funds that are not supported by property taxes but <br />36 <br />whose cash reserves could be used to provide for other general purposes including tax relief. <br />37 <br />38 <br />In the event the Council desires to amend the Policy further, a draft resolution including the current <br />39 <br />language is attached. <br />40 <br />PO <br />OLICYBJECTIVE <br />41 <br />The formal approval of financial and budget-related policies is consistent with the City’s Performance <br />42 <br />Management Program, prior Council actions, and industry-recommended practices. <br />43 <br />FI <br />INANCIAL MPACTS <br />44 <br />Not applicable. <br />45 <br />SR <br />TAFF ECOMMENDATION <br />46 <br />Not applicable. <br />47 <br />RCA <br />EQUESTED OUNCIL CTION <br />48 <br />If desired by the Council; Motion to Adopt the attached resolution (as may be revised) amending the <br />49 <br />City’s Operating Fund Cash Reserve Policy. <br />50 <br />51 <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: Resolution to amend the City’s Operating Fund Cash Reserve Policy. <br />52 <br />Page 2 of 5 <br />