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Finance Highlights 2009 0908
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Finance Highlights 2009 0908
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10/2/2009 9:14:56 AM
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10/2/2009 9:14:55 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Committee Highlights
Document Date (6)
9/8/2009
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_CC Agenda 2009 1005
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\City Clerk\City Council\Agenda Packets\2009\Packet 2009 1005
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As Council reviews and considers various budget balancing recommendations, both for 2009-10 <br />and subsequent years, staff will report the impact of any loan repayments on both the Reserved <br />and Unreserved components of the fund balance of the General Fund. <br />In closing, it may be useful to note that based on the preliminary close for 2008-09 total fund <br />balance for the General Fund is projected at approximately $29.7 million. Unfortunately, from a <br />budget standpoint, $14.6 million is reserved ($14 million for advances to other funds, $600,000 <br />for encumbrances). This leaves a balance of $15.1 million for Council designated use. Council <br />has further indicated that the Major Emergency Reserve of $5.0 million is not available for <br />budget balancing purposes. This leaves $10.1 million available for Council designation, <br />including balancing future budgets and is the amount reported by staff in the Five Year Budget <br />Forecast. <br />
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