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Attachment <br />Utility funds <br />They are enterprise funds <br />1. Should pay for <br />• Capital outlays <br />• Operations <br />• Replacement reserves <br />• Debt <br />2. Should have sufficient cash for operations and debt <br />3. Have a minimum of: <br />• 6 months of operating expenses including depreciation <br />• Following year's bond/debt payments, if any <br />• Funding for capital equipment <br />• Flexibility to accommodate unforeseen repairs <br />10/19/2020 3 <br />