Fund Balance: General Fund Reserves as a % of General Fund Revenues
This represents the amount of fund balance in the General Fund of the City compared to the revenues from Taxes (Property, Sales, Franchise), Intergovernmental (Ex. include State Liquor Tax, School Dist. School Resource Officers, and State Highway LINKS), Licenses & Permits, Fines, forfeitures & penalties, Charges for Services (Ex. include Taxi Coupon fees, IRB fees, admin fees for Water & Sewer fund, Stormwater fund and Solid Waste fund), Use of money and property (interest from rentals).
Pursuant to Council Policy F-1; It shall be the goal of the City to maintain a minimum fund balance in the general fund of 15% of revenues, with an annual target of 30% of revenues.
The maintenance of adequate operating reserves is essential to the financial strength and flexibility of the City. Operating reserves are an integral part of the financial structure of the City and help make it possible for the City to issue debt. Operating reserves are a significant factor considered in evaluating and assigning credit ratings by the bond rating agencies.
It is anticipated this will have stayed stable at 30% for 2018 but the final calculation is not available until later in March.
Meeting Target | Close to Target | Off Target