HomeMy WebLinkAbout2010-05 Establishing Target Ending Fund Balances RESOLUTION NO. an. CPC
A RESOLUTION ESTABLISHING TARGET ENDING FUND BALANCES
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 to the City and aids
in 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
Proposed
Fund EFB Target
General 1,722,000 12%
CDBG N/A
Reserve N/A
Street 450,000 15%
Airport 10,000 10%
CIP 500,000 N/A
Debt restricted 2,400,000 N/A
Water 900,000 20%
Wastewater 750,000 15%
Electric 1,488,950 12%
Telecommunications 372,000 20%
Central Services 174,000 3%
Insurance Services 1,000,000 N/A
Equipment 1,600,000 N/A
Cemetery Trust N/A
Subtotal 11,366,950
Parks Recreation 1,230,000 25%
CIP N/A
YAL N/A
Subtotal 1,230,000
TOTAL 12,596,950
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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 was duly PASSED and ADOPTED this v day of
February, 10.
i
Barbara Christensen, City Recorder
SIGNED and APPROVED this 9 day of `efPo, 2010.
a t-L n Stromberg, Mayor
Rev wed s to f.
Richar• Appicello, Cipittorney
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