Reduce required cash reserves from 15% to 7% of city budget
In Plain English
The city currently requires keeping 15% of its budget as emergency cash reserves. This policy change lowers that requirement to 7%. If approved, the city can spend or invest about $8 million more from its savings account each year.
Auto-generated summary. Source: official agenda documents.
Votes
Motion · Official minutes
Approved the policies
Related agenda records
Automatically matched by topic. Open an item to check its relevance and each motion’s outcome.
Revised Cash Reserve Policy
Cash Reserve Policy for Fiscal Year 2020-21
Reviewed the Cash Reserves Policy and adopted Resolution No. 53-18 approving the revised policy
Debt Policy, Swap Policy, and Cash Reserve Policy for Fiscal Year 2016-17
Annual Review and Adoption of Financial Policies for Fiscal Year 2022-23 (Cash Reserve, Debt, Investment, OPEB Funding, SWAP and Grant Management)