§ 2-124. Fiscal policy for maintaining adequate levels of reserves in the city's general fund, utility funds, and other funds per designation by city council.

(a)

The general fund unencumbered fund balance should be at least twenty-five (25) percent of the general fund annual budget expenditures, excluding capital lease payments and those expenditures planned for capital outlay purchases. This percentage is equivalent to three (3) months' operating expenditures.

(b)

The utility funds and other funds per city council designation should maintain an unencumbered fund balance (working capital) reserve of at least twenty-five (25) percent of the total annual budget expenditures, excluding debt service payments, capital lease payments and those expenditures planned for capital outlay purchases or the equivalent of three (3) months' operating expenditures.

(Ord. No. 2011-50, § 1(Exh. A), 9-20-11)