Provisions shall be made in the annual budget and in the appropriation ordinance for an appropriation of a reserve and or contingency allocation in an amount not more than 5% of the total annual budget; however, the 5% may only be allocated annually under the condition the “undesignated” reserve/contingency funds in general revenue does not exceed eight million dollars. All reserve/contingency funds may only be used with the specific consent of the City Council for unforeseen contingencies by the City Manager.
(Amendment adopted by electorate 5-12-12)