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MAY -22-1996 12:06 FROM CITY OF COLTON RDA TO CITY MRAGER P.03 <br />Reserve Analysis <br />Ad&tionally, the City Clouncil ho adopted Fiscal Policies with respect to reserves as follOM <br />The City will maintain General Fund Emerpney Reserves at a level at least equal to We of <br />Gencrai Fund operafto expenditures fbr ft purpose of providing protection of MY services <br />during economic downtutus or unforeseen catastrophic losses. <br />A City Council Contingency Resom of no less than 1.5 % of 090cral Pond operating <br />mvenues will be established to provide for rion-recauring, unanticipated exPemiihm Or to ad <br />aude momes to cover bxrwn contingencies with unIcnown coMe. <br />* -nw Accrued Lem Reserve will be utilized to accuznulwe funds to be used for payment of <br />acerned leave payable to employees tqm termination or redramt. <br />* Self-insurance reserves *iU be maintained at a level Which, togedw with purchased <br />insursnoe pofi�ies, adequately protea the City. 11w Chy will mand-in a reserve of brea <br />droes the sc!Mnsured retendon (SIR) levels for the General Liablhty LMUMM proiMun <br />(Currently $750,000) and a reserve fbr the Workers'Compoludon fund which is <br />recommended annusUy basedAhistorical claim trends (Cun=dy $460,000). <br />a*. <br />* nie City will project capital equiprnent replaccrncut mid maintenance needs for The next the <br />years and wiH update this projection each year. From this projection. a mahftcnmc and <br />replacement schedule wM be developed and followed. <br />JU 1993-94 end 1994-95 adopted budgets included budgeted movies to MJdxM the <br />reccizomendations of the 1993 LTFP sad 1994 LTVP and City Council policies to the <br />feasibleextent. <br />The balence of this report will review and update previous LTFP recommendation56 City Council <br />policies, and prior budget action with respect to each ortho funds mcationed In the background <br />section above. Recomcwndations will be made with respect to Amding strategies in fturc yam. <br />Analysis of ft Funds <br />PAch of the ftds will be analyzed under the following guidelinw. <br />city Council rMal Policy <br />093 LTVP and 1994 LTFP Rmoommendations <br />1993-94 end 1994-95 Annual Budget Actions <br />Anessnicat of do COMM Situation <br />tions <br />Fiscal Impact of Recommendations <br />W <br />2 <br />