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Attachment B Chair Schroeder suggested the motion be modified to indicate this concept can be presented to the Council and the FC could then look at it again and add more details. If the Commission puts a lot of time into it, and the Council does not like it, then it would return to square one. Commissioner Bachhuber added this may allow the City to have smaller cash reserve targets. And if the CIP is pulled out, it is no longer masking the amount of excess that exists within those funds. This makes it clear what is needed and it is called out what is extra. There is no need to be more specific right now. He indicated he is comfortable in proposing this to the Council and receive feedback from them. Further, he is not inclined to put much more effort into it, without knowing of the Council’s support. Commissioner McRoberts concurred there is a philosophical discussion to be had first, among the Council. Commissioner Zeller stated as a concept to move forward, he will support the motion. Chair Schroeder summarized that the motion calls for page 2 of the staff report as the proposal, th with the addition on the 4 box of ensuring that no individual box is less than its minimum target. Finance Director Miller asked for clarification on the term “excess” cash reserve targets. Commissioner Bachhuber clarified it should be excess of the target amount. Everything above the midpoint, while ensuring all of the funds are above the minimum. This is a proposed policy, for the Council to consider. Commissioner Harold commented that the midpoint would then effectively become the new maximum, if a fund is never allowed to grow above that midpoint. Finance Director Miller noted the target reserve levels are reviewed annually. Commission Bachhuber amended the motion, and Commissioner Murray accepted the amendment, to clarifythat the City would sweep anything in excess of the maximum of the target reserve levels for each fund, ensuring each fund has its minimum amount. The City will review the maximum and minimum of those funds. The amended motion carried unanimously. Chair Schroeder stated she would like to see the numbers with capital taken out. Member McRoberts asked how the Communications fund is funded. Finance Director Miller noted the funding comes through franchise fees. There are more expenditures than revenues, in the 2017/2018 budget. A course correction will be needed at some point. The expenditures will have to be adjusted. The franchise fees being taken in are already at the maximumallowed by State law.