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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). <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). <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, 2024, 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 />Pension Plans <br />Deferred Deferred <br />Net Pension Outflows Inflows Pension <br />Liabilities of Resources of Resources Expense <br />PERA — GERF $ 2,471,091 $ 741,419 $ 1,642,547 $ 355,931 <br />PERA — PEPFF 3,348,488 5,544,598 6,157,604 698,307 <br />Total - all pensions $ 5,819,579 <br />$ 6,286,017 $ 7,800,151 <br />$ 1,054,238 <br />81 <br />