(A) The General Fund balance is intended to provide the city with sufficient liquidity to support one-time emergency costs and other non-recurring operating shortfalls such as:
(1) Natural disaster or other emergency;
(2) Economic recession/depression;
(3) Unexpected decline in revenue; or
(4) Unexpected large one-time capital expenditures.
(B) The General Fund balance shall not be used to fund recurring operating expenses. An exception may be made for winding down a program or service which must be eliminated in order to provide sufficient notice and reduce the impact to the community. This action shall have a definite end date of not more than one fiscal year.
(C) A majority vote of the City Council will be required to use the General Fund balance in a manner that would reduce the balance below the 50% minimum requirement.
(Ord. 32-16, passed 9-12-16)