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Attachment B <br />At the January Finance Commission meeting, a majority of CommissionMembersseemed to agree that <br />the general mechanics of creating a Cash Reserve Fund could be achieved by taking the following steps: <br />1)Remove cash reserves set aside for capital replacements within the Communications, <br />Information Technology, and License Center funds to more accurately depict what is needed <br />for future operations. <br />2)Transfer these monies to separate capital replacement funds for the Communications, <br />Information Technology, and License Center funds similar to the City’s other vehicle & <br />equipment funds. <br />3)Using the Council-adopted Operating Fund Reserve Policy as a guide, transfer any excess cash <br />reserves (less donations) from the individual Funds noted above into the newly-created Cash <br />Reserve Fund. <br />After the final step is completed, the Council could then determine how to use these excess funds. The <br />mechanics of these steps are depicted in the graphic below which was created by Commissioner <br />Bachhuber: <br />Remove Capital <br />Create separate CIP <br />From Operating <br />Funds as needed <br />Funds <br /> <br /> <br /> <br /> <br /> <br />Sweep $$ in excess <br />Determine Cash <br /> <br />of Cash Reserve <br />Reserve Targets for <br /> <br />Targets into Central <br />each Fund <br />Fund <br /> <br /> <br /> <br /> <br /> <br /> <br />Council determines <br /> <br />how to use (Tax <br /> Relief/Capital) <br /> <br /> <br /> <br /> <br />