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�43 <br />144 <br />145 <br />X46 <br />1 �'� <br />148 <br />149 <br />150 <br />�51 <br />152 <br />153 <br />154 <br />1SS <br />156 <br />157 <br />1S8 <br />1S9 <br />160 <br />��1 <br />162 <br />�53 <br />� 64 <br />165 <br />166 <br />167 <br />168 <br />lb9 <br />�!� <br />I'i 1 <br />�'i2 <br />173 <br />�74 <br />17S <br />176 <br />177 <br />�78 <br />�79 <br />1$0 <br />181 <br />182 <br />1$3 <br />184 <br />❑ City enterprise �unds s�al� ha�e operating cash reserves sufficient ta �arovide for <br />monthly cash flow, a.nd for a reasanable ievel o£ equiprnent and i�frastructure <br />areplacement. Major reconstrc�ction or system �pgrades, i�ay need tn be �ur�cled from <br />eni:ez�rise revenue bonds. Azzz�zual utility rate reviews w�ll �e made in regard to <br />projected aperaiing ex�enses and capi�al improvernents. The Council will, on an annual <br />basis, establish rates in accordance to operating cost recavery and the projected capital <br />improv�ments <br />* Comment * the cur�ent �ese�ve level fa� these funds are at acceptable <br />Zevels except for the Waier Fund. Above-inflatian water �ate increase� <br />vvill be needed each yea� for an estimated 10 y�a�s to bring the Water <br />Fund's financial condition ta a level that is simila� to all othe�^ City <br />operations. The alternative is to fransfer manies , froYn other� ente�p�ise <br />funds that have str�onger-than-needed reserve levels <br />CI A�1 other operational f�zads e.�. Licer�se Center, Inforrnation Teclu�ology, �tc are <br />expected �o aperate with �ositive reserve ba�ances af IO-25% �+������� o£the annual <br />apera�ing budget. , <br />� <br />gi�te�a�: Eacl� operaiioa�al fiu�d sha11 be rev�evved ox az� annua� basis io assur� ihe <br />fi�nd balance is ir� line �vith the �nd's objectives <br />Ca A one tir�e capital gain on �he City's tr�asury portfolio ir� 1998 %as provided %�r a <br />Ta� a er Red�ctiozz fiz�d whieh has �een dedicated to provic�ir�g an ongoing tax <br />areduct�on io Raseville property taxpayers. The intent af this fund is �a transfer the <br />annual in�erest earzxxn s to the General �'uz�d ta artiall red�ee the necessar tax �ev . <br />,,.,h+�Y,���z a� ThiS <br />.r ra.�:u.�uuaa�'. . • <br />F��d �as b�en formall cate c�rized b t�e Counci� as a ermar�ent fund •w�careb an� <br />ti�e inte�est roceeds are used eack� ear for the stated ase. The nri inai riz�ci a� <br />amouz�:i remains intact <br />* CornFnent '� the current �eseYVe level fo� this fund is �"1.9 million. While <br />the origina2 intent was to ensu�e that this fund remain separate frayn all <br />athe�s, lo�►v �^eserve levels in the City's key operating funds — specifically <br />the General Funcl, tnay warrant a transfer of these rrtonies elsewhere. <br />Irnplemen�ation <br />Al� fiznd reserves sl�all be reviewed each year at the iirne of the anraual budget preparation. <br />Budgets shall be prepared on an "All Reso�rces" basis, sa that ihe City Cauncil and Coz�z�munity <br />can readily discern the current and proj ected managem�ni of all reserves. <br />�J <br />