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3�3 <br />3�� <br />3�� <br />?'�b <br />3�� <br />3�� <br />�7� <br />�S� <br />Cl 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 expensesand capital improvements. The Council will, on an annual <br />basis, establish rates in accordance to operating cost recovery and the projected capital <br />improvements <br />�$] " Comment � the cuNNent Nese�ve level foN these funds a�e at acceptable <br />� �S� levels except foN the WateN Fund Above-inflation wateN Nate incNeases <br />38� will be needed each yeaN foN an estimated 10 yeaNS to bNing the WateN <br />��� Fund'.� financial condition to a level that is similaN to all otheN City <br />�R.� opeNations. The alteNnative is to tNansfeN monies fNOm otheN enteNpNise <br />��� funds that have stNOngeN-than-neededs�eses�ve levels <br />�S? <br />�8� <br />��� <br />39€� <br />��i <br />��� <br />3�� <br />��� <br />3�� <br />�� <br />a�� <br />��� <br />,� �� <br />���� <br />�O1 <br />�Q'? <br />��3 <br />�0� <br />��5 <br />�41�i <br />��� <br />��� <br />�� <br />� All other operational funds e.g. License Center, Information Technology, etc are <br />expected to operate with positive reserve balances of 10-25% $t�� of the annual <br />operating budget. ��e+����-�f��t}� �€� ��f�� #`��i�����e�--€�f���r-��,{ a,.�.�:.,,, ..� .._.. <br />Sd.L�ti�}UF�l3l� 6�£{�-]+'-�}lvj ��#15,�rr'�'+'ia���it�33E`�a�ari�'�1���FEI' °�3�V�'�� -1l31�k1� 311 �.Ft� <br />�� �_ Each operational fund shall be reviewed on an annual basis to assure the <br />fund balance is in line with the fund's obj ectives <br />0 A one time capital gain on the City's treasury portfolio in 1998 has provided for a <br />Taxpaver Reduction fund which has been dedicated to providing an ongoing tax <br />reduction to Roseville property taxpayers. The intent of this fund is to transfer the <br />annual interest ea:r�i��s to the General Fund to partiallv reduce the necessarv tax lew. <br />�1�-�C1j�C#k�7I5 -S��a=�aiiiPr-tS kB F�c�'s}�$ �� =2�'���k�J E����V� 3�� <br />��{!.ti'c13�1��$�W �r� $E}�il��3f. TF�3i �LEFttk k��#L��33iilfk�l3���-�Ikl��•�?��y7�T� �}Sr <br />Fund has been formall� cate,gorized b� the Council as a�ermanent fund, whearebv onl� <br />the interest proceeds are used each vear for the stated purnose. The ori�inal t�rincipal <br />amount remains intact <br />* Comment * the cuNNent Nese�ve level foN this fund is $1.9 million. While <br />the oNiginal intent was to ensuNe that this fund Nemain sepaNate fNOm all <br />otheNS, low Nese�ve levels in the City's key opeNating funds — specifically <br />the GeneNal Fund, may waNNant a tNansfeN of these monies elsewheNe. <br />� E � Implementation <br />� f � All fund reserves shall be reviewed each year at the time of the annual budget preparation. <br />�9? Budgets shall be prepared on an "All Resources" basis, so that the City Council and Community <br />�]� can readily discern the current and proj ected management of all reserves. <br />�1� <br />��� <br />13 <br />