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The village's administration, credit rating agencies, and others monitor the levels of cash balance in the General Fund and Water and Sewer Fund as an important indicator of the village's economic condition. In establishing an appropriate level of cash balance, the village has considered the following factors:
(A) The predictability of its revenues and the volatility of its expenditures;
(B) The village's perceived exposure to significant one-time outlays (e.g., disasters, immediate capital needs, state budget cuts);
(C) The potential drain upon General Fund and Water and Sewer Fund resources from other funds as well as the availability of resources in other funds;
(D) Liquidity (i.e., the disparity between when financial resources actually become available to make payments and the average maturity of related liabilities may require that a higher level of resources be maintained);
(E) Commitments and assignments (i.e., the village may wish to maintain higher levels of unassigned cash balance to compensate for any portion of the cash balance already committed or assigned by the government for a specific purpose).
(Ord. 21-13, passed 4-19-2021)