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Attachment B <br />Memo <br />To:Roseville Finance Commission <br />From:Chris Miller, Finance Director <br />Date:November 14, 2017 <br />Re: Item #8:Continue Discussion on Establishing a Cash Reserve Fund <br />Background <br />At both the January and February Finance Commission meetings, the Commission held a discussion on <br />the concept of establishing a Cash Reserve or Cash Carryforward Fund. The Commission later discussed <br />the subject to the joint City Council-Finance Commission meeting held on September 18, 2017 during <br />which the Council formally directed the Commission to review the concept and come back with a <br />recommendation. <br />Prior to the directive to the Finance Commission, the City Council also put forth a similar directive to <br />Staff to bring a recommendation in conjunction with the City Manager Recommended Budget. The <br />Recommended Budget along with Staff’s recommendation on creating a Cash Reserve Fund was <br />presented to the Council on August 28, 2017. A copy of Staff’s recommendation is included in <br />Attachment A. <br />The Commission is now asked to develop its own recommendation to the Council. <br />Staff Recommendation <br />See Attachment A. <br />Requested Commission Action <br />Consider the concept of developing a Cash Reserve or Cash Carryforward Policy. <br />Prepared by:Chris Miller, Finance Director <br />Attachments:A:Not applicable. <br /> <br />