Laserfiche WebLink
<br />35 Staff is proposing using available funds from the Cash Reserve Fund, currently with a <br />36 balance of $924,397 and a portion of the surplus noted above in the Parks & Recreation <br />37 Fund and License Center. <br />38 <br />39 Communications — When compared to the 2026 Budgeted Expenditures, reserves are at <br />40 4.22% (Policy between 10% to 30%). The analysis indicates that funds are needed to <br />41 replenish the fund balance margins. $40,405 to bring the fund balance to the Low Target <br />42 Level of 10% or $180,181 to bring the fund balance to the High Target Level of 30%. City <br />43 Staff is proposing using a portion of the surplus noted above in the Parks & Recreation <br />44 Fund and Licence Center. <br />45 <br />46 Policy Objectives <br />47 It is recommended that the City adhere to its established fund reserve policies both in the <br />48 movement of excess cash reserves and in the maintenance of minimum balances. <br />49 <br />50 Equity Impact Summary <br />51 There is no direct equity impact to the fund transfers recommended in this staff report. <br />52 <br />53 Budget Implications <br />54 See above. <br />55 <br />56 Staff Recommendations <br />57 Staff recommends the City Council receive the preliminary 2025 Cash Reserve Fund. Staff <br />58 will bring back to council a request for transfer once the Financial Audit fieldwork is <br />59 completed. The Audit is scheduled for the weeks of March 23rd to April 3rd. <br />60 <br />61 Requested Council Action <br />62 1) Motion to receive the preliminary 2025 Cash Reserve Fund report <br />63 <br />64 <br />Samuel Magureanu, Finance Director <br />Prepared by: <br />1.2025 Cash Reserve Report as of March 16 <br />Attachments: <br />2.Fund 105 History as of March 16 <br />65 <br />Page 2 of 2 <br />Qbhf!58!pg!211 <br /> <br />