HomeMy WebLinkAbout2016-26 Establishing Target Ending Fund Balances Repealing 2010-05
RESOLUTION NO. , 3 (,-)i ( ° 42 (e2
A RESOLUTION ESTABLISHING TARGET ENDING FUND BALANCES AND
REPEALING RESOLUTION NO. 2010-05
THE CITY OF ASHLAND RESOLVES AS FOLLOWS:
The City of Ashland currently has Ending Fund Balance (EFB) targets established in the
accepted Financial Management Policies incorporated within the budget document.
These EFB targets are a primary tool in assuring financial viability of the City and aid in
financial flexibility. When percentages are provided they represent a calculation on
annual operating revenue and the dollar figure is an estimated amount. When no
percentage is given, only a dollar figure, the amount shown is the minimum target. No
target is established for a fund when no amount or percentage is given.
SECTION 1. Council adopts the following targets in either a percentage or dollar format
as provided below.
SECTION 2. The percentages or dollars presented will be adjusted annually in the
budget process.
City of Ashland
Fund Balance Worksheet
FY 2011 BN 2017-2019
Adopted Proposed *
Fund EFB Target % Minimum %
General $ 1,722,000 12% $ 2,310,000 12%
Comm Dev Block Grant - WA - NIA
Reserve - NIA - NIA
Street 450,000 15% 506,000 15%
Airport 10,000 10% 14,000 10%
CI P 500,000 N/A 500,000
Debt - restricted 2,400,000 N/A 2,400,000
Water 900,000 20% 1,455,000 20%
Wastewater 750,000 15% 1,177,000 15%
Electric 1,488,950 12% 1,877,100 12%
Telecommunications 372,000 20% 468,000 20%
Central Services 174,000 3% 216,000 3%
Insurance Services 1,000,000 N/A 1,000,000
Health Benefits 500,000 New
Equipment 1,600,000 N/A 200,000
Cemetery Trust NIA N/A
Subtotal $11,366,950 $ 12,623,100
Parks & Recreation $ 1,230,000 25% $ - N/A
Parks Capital Improvement - N/A - N/A
Parks Equipment NIA
Youth Activity Levy - Closed - WA Closed
Subtotal $ 1,230,000 $ -
TOTAL $12,596,950 $ 12,623,100
*Default is amount calculated in BN 2015-2017 budget document.
This amount is adjusted annually by CPI-U
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SECTION 3. Annual Operating Contingencies will be calculated on operating
appropriations in the 3% to 5% range as recommended by staff and approved by the
Citizen Budget Committee
SECTION 4. Copies of this resolution shall be maintained in the Office of the City
Recorder and shall be available for public inspection during regular business hours.
SECTION 5. This resolution takes effect upon signing by the Mayor.
This resolution was read by title only in accordance with Ashland Municipal Code
§duly PASSED and ADOPTED this day o r¢-2016.
r
Barbara Christensen, City Recorder
SIGNED and APPROVED this 17 day of , 2016.
n Stromberg, Mayor
Revie "d as to for 4jo David Lohman, City Attorney
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