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
Approved the policies
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5 related items found by meaning
Increase minimum cash reserves from 7% to 15% of annual spending
Adopt cash reserve policy for fiscal year 2020-21
Adopt revised policy for city cash reserves
Adopt financial policies governing city debt, investments, and cash reserves
Adopt 6 financial policies governing city cash reserves, debt, and investments
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