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35 $79,662 from Parks & Recreation fund <br />36 $360,160 from Information Technology fund – note, this is net of the $91,682 that was <br />37 applied to the 2022 budget. <br />38 P OLICY O BJECTIVE <br />39 It is recommended that the City adhere to its established fund reserve policies both in the movement of <br />40 excess cash reserves and in the maintenance of minimum balances <br />41 F INANCIAL I MPACTS <br />42 See above. <br />43 S TAFF R ECOMMENDATION <br />44 Staff recommends the City Council receive the 2021 Cash Reserve Fund report showing the transfer <br />45 of $439,822 from targeted funds to the Cash Reserve Fund and make a motion authorizing those <br />46 transfers. <br />47 R EQUESTED C OUNCIL A CTION <br />48 Motion to receive the 2021 Cash Reserve Fund report showing the transfer of $79,662 from the Parks & <br />49 Recreation fund and the transfer of $360,160 from the Information Technology fund, for a total of <br />50 $439,822 transferred to the Cash Reserve Fund. <br />51 <br />52 <br />53 <br />Prepared by: Michelle Pietrick, Finance Director <br />Attachments: A: Operating Fund Reserve Policy <br /> B: Cash Reserve Fund Levels as of 12/31/21 <br /> <br />Page 2 of 2 <br /> <br />