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28 the Economic Uncertainties Reserve are due to projected operating shortfalls commencing in fiscal year 2019-20. • Major Emergencies Reserve. The Major Emergencies Reserve is intended to be available in the event of a local disaster. Since fiscal year 2007-08, the City has maintained a balance of $5 million in the Major Emergencies Reserve. In its fiscal year 2017-18 and 2018-19 General Fund budgets, the City projects maintaining a balance of $5 million in the Major Emergencies Reserve. The amounts on deposit in the Economic Uncertainties Reserve and a Major Emergencies Reserve are part of the City’s unrestricted fund balance of the General Fund and are available for any General Fund expenditures as may be approved by the City Council. Interfund Borrowing and Cash Flows. General Fund expenditures tend to occur in level amounts throughout the fiscal year. Conversely, General Fund receipts have followed an uneven pattern primarily as a result of secured property tax installment payment due dates in April and December and as a result of delays in payments from other governmental agencies, which represent significant sources of City revenues. As a result, General Fund cash balances have typically declined or been negative for part of the fiscal year and, if negative, have been covered by interfund borrowings pursuant to Section 6 of Article XVI of the California Constitution. The State Constitution prohibits interfund borrowings by cities after the last Monday of April of each fiscal year of amounts that exceed 85% of taxes accrued. Prioritizing Unfunded Liability Liquidation Plan. In addition, in September 2015, the City Council adopted a Prioritizing Unfunded Liability Liquidation Plan (the “PULL Plan”) with a 5 year goal of allocating $5 million toward reducing unfunded liablities. To assist the City in implementing the PULL Plan, the City Council adopted the following criteria as a financial policy to assist the City in meeting the PULL Plan goal of $5 million, among others: • Pay 100% of the City’s annual required contribution • Direct up to 50% of all General Fund carryover toward the PULL Plan • Direct up to 50% of all General Fund land sales toward the PULL Plan In accordance with this financial policy, the City the City has set aside approximately $16 million, as of September 30, 2018, in a trust administered by the Public Agency Retirement Services (“PARS”) for the City’s Other Post Employment Benefit Plan (the “OPEB Plan”). See “– Employee Retirement Systement” and “– Other Post Employment Retirement Benefits.” As part of the implementation of the PULL Plan, the City also revised the combined reserve balance target for the Major Emergencies Reserve Fund and an Economic Uncertainty Reserve Fund to a revised combined balance target of 16.67%, as previously described. See “– City Reserves” above. Self Insurance. The City maintains a Self Insurance Fund. The Self Insurance Fund provides the City insurance protection against public liability cases and worker’s compensation claims related to injuries to City employees. The Self Insurance Fund’s balance sheet records the liability for Claims and Judgments for outstanding cases and claims. As of June 30, 2017, the City’s total liability for Claims and Judgments amounted to $6,096,784 and the Self Insurance Fund reflected a liability fund balance of $6,049,069.