(A) The city will maintain General Fund working capital and reserves. The balance of the fund will be maintained at a level at least equal to 25% of the total General Fund annual budgeted expenditures, excluding capital expenditures. This reserve shall be created and maintained to provide the capacity to:
(1) Offset unexpected downturns or revision in any general corporate fund revenue.
(2) Provide a sufficient cash flow for daily financial needs at all times.
(3) Offset unexpected increases in general corporate fund expenditures.
(B) The city will maintain its enterprise funds working capital and reserves. The balance of the funds will be maintained a ta level at least equal to 25% of the total fund annual budgeted expenditures, excluding capital expenditures.
(Ord. 1000, passed 1-15-18)