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SUBJECT: 2018 RECOMMENDED BUDGET AND 2018-2021 LONG-TERM PLAN <br />DATE: SEPTEMBER 26, 2017 <br />PAGE 14 OF 24 <br />General Fund Long -Term Forecast <br />Incorporating the revenue projections, the operating expenditure targets, the interfund <br />transfer projections, and the updated C -I -P projections outlined in the preceding <br />discussion, the following graph summarizes a history and projection of revenue, <br />expenditures, and fund balances for the General Fund. <br />25000,000 <br />20,400,000 <br />15,000,000 <br />10,000,044 <br />5,000,000 <br />General Fund <br />di it II 11 1 <br />2005 2006 2007 2003 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 <br />Revenue Expenditures Fund Balance -Target-Minirrrurn <br />The City's Reserve Policy for the General Fund states, <br />The minimum unrestricted fund balance of the General Fund shall be maintained at or <br />above 15% of current operating expenditures. For purpose of this policy, operating <br />expenditures are defined as all expenditures less any interfund transfers to other funds, <br />regardless of whether the transfers are considered recurring or non-recurring. <br />While the minimum unrestricted fund balance is set at 15% of current operating <br />expenditures, the targeted unrestricted fund balance will be at or above 20% of current <br />operating expenditures. <br />The projected General Fund balance at the end of 2021 is $8.5 million. This equates to <br />36% of operating expenditures and is well above the targeted fund balance as defined <br />in the Reserve Policy. <br />CITY COUNCIL COMMUNICATION <br />15 <br />