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Attachment B <br />Roseville Finance Commission <br />Agenda Item <br />:Roseville FinanceCommission <br />:Chris Miller, Finance Director <br />:December14, 2017 <br />:Item #6:ContinueDiscussion on Establishing a Cash Reserve Fund <br />Overthepastyear,theFinanceCommissionhasheldanumberofdiscussionsontheconceptof <br />establishingaCashReserveorCashCarryforwardFund.Thisincludeddiscussionsonthefollowing <br />dates: <br />January 10, 2017 <br />February 14, 2017 <br />September 18, 2017 (JointCityCouncil-FinanceCommission meeting) <br />November 14, 2017 <br />AttheSeptember18,2017JointCityCouncil-Commissionmeeting,theCouncildirectedtheFinance <br />Commissiontodiscusstheconceptofcreatingthisfund.Priortothatdirective,theCityCouncilalso <br />putforthasimilardirectivetoStafftobringarecommendationinconjunctionwiththeCityManager <br />RecommendedBudget.TheRecommendedBudgetalongwithStaffsrecommendationoncreatinga <br />CashReserveFundwaspresentedtotheCouncilonAugust28,2017.AcopyofStaffs <br />recommendation is included in Attachment A. <br />MorerecentlyattheNovember14FinanceCommissionmeeting,theCommissionexpressedan <br />interestinbetterunderstandingtheactualoperatingsurplusesordeficitsthattheCityhasexperienced <br />inthepastfewyears.AttachmentBprovidesa5-yearsummaryoftheyear-endresultsfortheselected <br />operatingfundsthathavegenerallybeenincludedinpreviousdiscussionsassociatedwithcashreserve <br />balances. <br />The Commission is now asked to develop its own recommendation to the Council. <br />SeeAttachment A. <br />Consider the concept of developing a Cash Reserve or Cash Carryforward Policy. <br />Prepared by:Chris Miller, Finance Director <br />Attachments:A:Staff Recommendation on the Creation of a Cash Reserve (Carryforward) Fund. <br />B:5-Year Summary of Financial Results for Selected Operating Funds. <br />Page1 of 1 <br /> <br />