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65C - FINANCIAL POLICY
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65C - FINANCIAL POLICY
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Last modified
4/10/2024 4:16:10 PM
Creation date
6/1/2017 3:59:49 PM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
65C
Date
6/6/2017
Destruction Year
2022
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FY 13-14: 100 % of recurring revenue projected; <br />FY 14.15: 99 % of recurring revenue projected; <br />Such factors shall be used to generate General Fund savings until such time that a 7%-8% unassigned <br />General Fund reserve has been achieved. <br />Any generated General Fund savings achieved after reaching between a 7%-8% undesignated General <br />Fund reserve shall be applied in the following order: <br />Up to a max of 25% -Unassigned General Fund Reserve <br />Up to a max of 25%-Economic Uncertainty Reserve <br />Up to a max of 50% -Can be applied to term specific programs, projects, personnel as well as deferred <br />capital maintenance. <br />Budget & Financial Polices (Rev. 6/2017) Page 4 <br />
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