Adopt revised policy for city cash reserves
In Plain English
The city maintains cash reserves as emergency funds for unexpected expenses or revenue shortfalls. The current policy needed updates to reflect best practices for how much money to keep in reserves and when to use it. If approved, the revised policy provides clearer guidelines for protecting the city's financial stability during economic downturns or emergencies.
Auto-generated summary. Source: official agenda documents.
Votes
Adopt Resolution No. 53-18 approving the revised Cash Reserves Policy
PassedCommunity Discussion
This discussion was submitted to the City Clerk as part of the public record.
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Similar Discussions
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Adopt cash reserve policy for fiscal year 2020-21
Increase minimum cash reserves from 7% to 15% of annual spending
Reduce required cash reserves from 15% to 7% of city budget
Update financial policies governing city cash reserves and debt management
Adopt 6 financial policies governing city cash reserves, debt, and investments
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