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<br />26 <br />the City. This is part of the City’s new Prioritization Unfunded Liability Liquidation (PULL) Plan, <br />which has a 5–year goal of allocating $5,000,000 towards reducing unfunded liabilities. <br /> <br />The amount of the Major Emergencies Reserve has remained at $5,000,000 since <br />2007–08. The Economic Uncertainty Reserve has been utilized for operations over the past <br />several years, and as of June 30, 2015 was valued at $7,412,000. The City’s Fiscal Year 2015– <br />16 and 2016–17 budget was approved without any further draw–down of the Economic <br />Uncertainty Reserve. <br /> <br />In Fiscal Year 2007–08, the Major Emergencies and the Economic Uncertainty Reserves <br />together totaled about 19% of the General Fund operating expenditures. The aggregate <br />Reserve amounts declined over the past several years and were recorded at $19,145,000, <br />about 22.80% of the General Fund operating expenditures, as of June 30, 2015. As of June 30, <br />2016 aggregate Reverse amounts grew to approximately $29 million. These amounts are <br />unassigned and available for spending in the future. <br /> <br />Interfund Borrowing and Cash Flows. General Fund expenditures tend to occur in <br />level amounts throughout the Fiscal Year. Conversely, General Fund receipts have followed an <br />uneven pattern primarily as a result of secured property tax installment payment due dates in <br />April and December and as a result of delays in payments from other governmental agencies, <br />which represent significant sources of City revenues. As a result, General Fund cash balances <br />have typically declined or been negative for part of the Fiscal Year and, if negative, have been <br />covered by interfund borrowings pursuant to Section 6 of Article XVI of the California <br />Constitution. The State Constitution prohibits interfund borrowings by cities after the last <br />Monday of April of each Fiscal Year of amounts that exceed 85% of taxes accrued. <br />Self Insurance. The City maintains a Self Insurance Fund. The Self Insurance Fund <br />provides the City insurance protection against public liability cases and worker’s compensation <br />claims related to injuries to City employees. The Fund’s balance sheet records the liability for <br />Claims and Judgments for outstanding cases and claims. As of June 30, 2015, the City’s total <br />liability for Claims and Judgments amounted to $6,046,546 and the Self Insurance Fund <br />reflected a fund balance of $2,228,601. <br /> General Fund Budgets. The City’s General Fund original and final budget figures and <br />audited actual figures for Fiscal Year 2014–15, and the City’s original and final budget figures <br />and unaudited actual figures for Fiscal Year 2015–16, are set forth in the following table. <br /> <br />“Operating Transfers Out” in the following table generally represent transfers to the <br />City’s Public Education and Government Fund, and costs relating to a refuse contract and the <br />construction of a sound wall as part of the City’s Capital Improvement Program. <br />“Debt Service” expenditures reflected in the table below are related to certain <br />outstanding long–term obligations payable from the City’s General Fund, not including the <br />Bonds. See “– General Fund Obligations” below.