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59 <br />FROM CITY OF COLTON RDA <br />TO ---I TY h +b;GEa P. 03 <br />Reserve Analysis L <br />/ Additionally, the City Council has adopted Fiscal Policies with respect to reserves as follows: r <br />�V •lice City will maintain General Fund Emergency Reserves at a level at least equal to % of L <br />General Pond operating expenditures for tho purpose of Providing protection of City servicer <br />/ during economic downunns or unforeseen catastrophic losses. r <br />J <br />• A Contingency Reserve of no less than % of General Pond operating r <br />revenues will be established to provide for non-recurring, unanticipated expenditure or to set <br />aside monies to cover ]mown contingencies with unknown costs. ` <br />The Accrued Leave Reserve will be utilized to accumulate ftmds to be used for f <br />• paymem of <br />accrued leave payable to employees upon termination or mdmaent. <br />. Self-insurance reserves will be maintained at a level which, together with purchased <br />insurance Policies, adcgnelely Protect the City. The City will mint in as retKri6 of.: <br />Ithe scif-insured retention (SIR) levels for the' General Liability Luumoce Program <br />(CW=tly S • `) and a reserve fur the Workers' Compensation fund which is <br />recommended annually bascd11historical claim trends (Cun=dy S )• <br />o*• ' <br />• The City will prgject capital equipment replacement trod maintenance nods for the next five <br />years and will update this projection each year. From this projection. a maintenance and <br />replacement schedule will be developed and followed <br />'Me. and adopted budgets included budgeted monies to address the <br />recommendations ofthe LTFP and LTFP and City Council policies to the maximum <br />feasible extent. <br />The balance of this report will review and update previous LTFP recommendations, City Council <br />Policies, and prior WC189t actions with respect to each of the fluids mentioned is the background <br />section above. Recommendations will be made with respect to funding strategies in &ture years. <br />Ana"Isr of the Fund* <br />Pach of the funds will be analyzed under the following guidelines: <br />• City Cormcil Fiscal Policy <br />• <br />LT" and 19 LTFP Recommendations <br />• 19. . and 19 Annual Budget Actions <br />• Assessment of the Current Situadon <br />• Ruammendariaas <br />• Fiscal Impact of Recommendations <br />- -- 2 <br />