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2. 1. <br /> CC Work Session <br /> Meeting Date: 11/12/2024 <br /> PrimaryStrategic Plan Initiative: Identify and implement operational efficiencies,cost savings and additional <br /> g funding sources. <br /> Information <br /> Title: <br /> Review Fund Balance Policy <br /> Purpose/Background: <br /> Continued discussion of the Fund Balance Policy. <br /> The current policy, amended with the elimination of the compensated absence liability(see attached), fulfills what <br /> council members were recommending at the October 22,2024 City Council worksession. <br /> The policy will retain the allocation of excess/deficient General Fund Revenues to be allocated in the following <br /> manner: <br /> Thirty Percent(30%)to Fund#234-Equipment Replacement Fund <br /> Thirty percent 30% to Fund #400 - Public Improvement Revolving Fund <br /> Thirty Percent 30%)to Fund#810—Capital Maintenance Fund <br /> Ten percent 10%to Fund#412—Public Facilities Construction Fund <br /> Time Frame/Observations/Alternatives: <br /> 15 minutes <br /> Recommendation: <br /> Staff recommends amending the current policy with the elimination of the Compensated Absences Liability. <br /> Outcome/Action: <br /> Review of policy for future adoption. <br /> Attachments <br /> Amended Fund Policy <br /> Form Review <br /> Inbox Reviewed By Date <br /> Brian Hagen Brian Hagen 11/07/2024 01:59 PM <br /> Form Started By:Diana Lund Started On: 10/25/2024 07:21 AM <br /> Final Approval Date:11/07/2024 <br />