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NOTE 8 —FUND BALANCE POLICY AND CLASSIFICATION (CONTINUED) <br />B. Fund Balance Policy — General Fund <br />When General Fund actual revenues exceed actual expenditures in a given year, the excess shall be allocated <br />as follows: <br />a) Any excess shall be first allocated to "unassigned" fund balance to bring that portion of fund <br />balance to an amount equal to fifty percent (50%) of the next years adopted operating budget <br />plus prior -year encumbrances (if any) plus compensated absences. <br />b) Any excess after complying with fund balance requirements in step "a" shall be allocated to <br />equipment replacement, park trust, public facilities construction, and public improvement <br />revolving funds in the following manner: <br />Thirty percent (30%) to Fund #234 -Equipment Revolving Fund <br />Thirty percent (30%) to Fund #810 —Capital Maintenance Fund (reported in General Fund) <br />Ten percent (10%) to Fund #412 —Public Facilities Construction Fund <br />Thirty percent (30%) to Fund #400 -Public Improvement Revolving Fund <br />When General Fund actual expenditures exceed actual revenues in a given year, the deficit shall be treated <br />as follows: <br />a) "Unassigned" fund balance shall first be adjusted to an amount equal to fifty percent (50%) of <br />the next years adopted operating budget plus prior year encumbrances (if any) plus <br />compensated absences. <br />b) If shortage after complying with fund balance requirement in step "a" shall draw funds in the <br />following manner: <br />Thirty percent (30%) to Fund #234 -Equipment Revolving Fund <br />Thirty percent (30%) to Fund #810 —Capital Maintenance Fund (reported in General Fund) <br />Ten percent (10%) to Fund #412 —Public Facilities Construction Fund <br />Thirty percent (30%) to Fund #400 -Public Improvement Revolving Fund <br />At December 31, 2022, the City has met its general fund balance policy goal. <br />NOTE 9 — DEFINED BENEFIT PENSION PLANS SUMMARY <br />The city has reported the following balances for defined benefit pension plans as detailed further in these <br />notes: <br />Deferred <br />Deferred <br />Net Pension <br />Outflows <br />Inflows <br />Pension <br />Pension Plans <br />Liabilities <br />of Resources <br />of Resources <br />Expense <br />PERA — GERF <br />$ 4,775,781 <br />$ 1,5491737 <br />$ 11407 <br />$ 7671236 <br />PERA — PEPFF <br />11,196,681 <br />7,9231709 <br />671109 <br />112491070 <br />Total - all pensions <br />$ 151972,462 <br />$ 9,4731446 <br />$ 1811996 <br />$ 210161306 <br />81 <br />