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2 <br /> <br />one-time revenues should be evaluated for the reserve to the extent required in the <br />event the 20% goal is not being met. <br /> <br />Major Emergency Reserve <br /> <br />The Major Emergencies reserve is set aside for recovery from an earthquake, firestorm, <br />and other disasters. The Major Emergency reserve shall be established with a goal of <br />maintaining a target balance of $5,000,000. <br /> <br />Undesignated Fund Balance <br /> <br />General Fund Undesignated Fund Balance is the cumulative recording of year-to-year <br />revenue/expenditure balances. A General Fund surplus at year end increases the total <br />fund balance. The Undesignated Fund Balance remains in the General Fund until <br />allocation by the City Council to another designated reserve or fund (i.e. Capital <br />Improvement Fund). <br /> <br />This reserve policy shall be reviewed annually to ensure its consistency with the overall <br />objectives and review of target funding levels. Modifying amendments shall be <br />approved by the City Council. The City Council may at anytime review and modify this <br />reserve policy. <br /> <br />21