Laserfiche WebLink
What is Fund Balance? (cont.) <br />Why is a targeted 20% fund balance important? <br />•Ability to pivot for unexpected expenses without resulting in direct to significant service <br />reductions or borrowing. <br />•Improved ability to weather economic downturns. <br />•Ability to remain operational during natural disasters. <br />•May impact / improve credit ratings, leading to lower borrowing cost. <br />•Enhanced financial stability and resilience. <br />What is the City Fund Balance Policy? <br />•$5M for Major Emergencies <br />•20% of Total Expenditures for Economic Uncertainties <br />•Set policy meets and exceed industry best practice <br />Pg 7 Meeting Date: June 2, 2025