Laserfiche WebLink
economic downturns take place, this reserve will provide for a transition period during <br />which the Council will be able to assess and to better match operations with the <br />economic need <br />^ City enterprise funds shall have operating cash. reserves sufficient to provide for <br />monthly cash flow, and for a reasonable level of equipment and infrastructure <br />replacement. Major reconstruction or system upgrades, may need to be funded from <br />enterprise revenue bonds. Annual utility rate reviews will be made in regard to <br />projected operating expenses and capital improvements. The Council will, on an annual <br />basis, establish rates in accordance to operating cost recovery a~ld the projected capital <br />improvements <br />^ All other operational funds e.g. License Center, Information Technology, etc are <br />expected to operate with positive reserve balances of 10-25% of the aimual operating <br />budget. Each operational fund shall be reviewed on an amrual basis to assure the fund <br />balance is in line with the fiend's objectives <br />Implementation <br />All fund reserves shall be reviewed each year at the time of the amiual budget preparation for the <br />purpose of complying with this policy. Budgets shall be prepared on an "All Resources" basis, <br />so that the City Council and Community can readily discern the current and projected <br />management of all reserves. <br />8 <br />