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Attachment E <br /> <br />Memo <br />To: Roseville City Council <br />Pat Trudgeon, City Manager <br />From: Michelle Pietrick, Finance Director <br />Date: November 30, 2020 <br />Re: Projected 2020 Budget Surplus/Deficit for Unrestricted Operating Funds <br /> <br />Background <br />The City Council is expected to adopt the final 2021 Budget and Tax Levy at the December 7, 2020 <br />meeting. The City Council has adopted an Operating Fund Cash Reserve Policy and implemented a <br />Cash Reserve Fund. <br /> <br />To assist the City Council in making a final levy decision, staff has prepared projected year-end financial <br />results for the CityÓs unrestricted operating funds. <br />Cash Reserve Levels: Operating Funds <br />Unrestricted <br />ProjectedProjectedProjected 12/31/202012/31/2020 <br />LowHigh <br />12/31/20192020 12/31/202012/31/2020 Target Target <br />CashSurplusCashReserveReserveReserve <br />Reserves(Deficit)ReservesLevelLevelLevel <br />Operating Fund <br />General: Primary 5,841,426$ 2,987,000$ 8,828,426$ 49%6,327,925$ 8,135,903$ <br />General: Cash Reserve Fund 748,522 10,000 758,522 <br />Parks & Recreation1,277,698 (350,000) 927,698 18%1,302,107 1,302,108 <br />Communications 160,317 (8,800) 34%45,216151,517 135,648 <br />Information Technology457,088 400,000 26%334,251857,088 501,376 <br />License Center 305,323 (155,000) 7%209,475150,323 314,213 <br />Cash Reserve Target Levels <br />TargetTarget <br />Operating FundLowHigh <br />General (unrestricted portion)35%45% <br />Parks & Recreation25%25% <br />Communications10%30% <br />Information Technology10%15% <br />License Center10%15% <br /> <br /> <br /> <br />It should be noted that these projections are based on preliminary financial results through October 31, <br />2020 along with estimated financial activity for the remainder of the year. For the General Fund, a margin <br />of error of +/- 2% ($300,000) can be expected given these assumptions. <br />1 <br /> <br />