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Elimination of the Use of General Fund Reserves to Balance the Budget <br />2020 Levy Impact: Increase of $340,805 <br />For the past several budget cycles, the city has relied on the use of reserves to balance the <br />budget. For the 2018 budget, the total amount of reserves used to balance the budget was <br />$681,610. In 2018, due to the balance of the General Fund Reserve being close to the <br />minimum balance required by the City’s Financial Policies, the 2019 Budget lowered the use of <br />General Fund Reserves to $340,805 and raised the tax levy by the same amount. For the 2020 <br />Budget, it is proposed to eliminate the reliance on the General Fund for the budget and raise the <br />tax levy by $340,805 to cover this change. <br /> <br />Shift a Portion of Levy Earmarked of IT Capital Equipment to the <br />Operations Budget <br />2020 Levy Impact: $0 <br />In looking at the capital needs for IT purposes, staff has found it is adequately funded over the <br />next 20 years and no longer needs the same level of levy support. Therefore, I am <br />recommending that $50,000 of levy dollars currently being used to support capital purchases be <br />repurposed to the operations budget. This shift will help offset an increase to the levy that <br />would otherwise be necessary to fund the proposed 2020 budget. <br /> <br />Page 11 of 19 <br /> <br />