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SUBJECT: 2018 RECOMMENDED BUDGET AND 2018-2021 LONG-TERM PLAN <br />DATE: SEPTEMBER 26, 2017 <br />PAGE 17 OF 24 <br />14,000,000 <br />12.000..000 <br />100141,000 <br />8,000.000 <br />6,000,000 <br />4,000,000 <br />2,000,000 <br />Capital Projects Fund <br />1 <br />2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2011 2018 2019 2020 2021 <br />• Revenue - Expenditures • Fund Balance <br />Large fluctuations in revenue, expendtures, and reserves in capital projects funds are <br />typical. The City does not have a reserve policy for the Capital Projects Fund. The <br />Capital Project Fund balance is projected to decline from $2.0 million at the end of 2018 <br />to less than $600,000 at the end of 2021. Of this decline, $1.1 million is due to the <br />2019-2021 transfers to the Open Space & Parks Fund. <br />Consolidated Utility 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 Consolidated Utility Fund. <br />The City's Reserve Policy for the Utility Funds states, <br />The minimum working capital for the Water, Wastewater, and Storm Water Utility Funds <br />shall be maintained at or above 25% of current operating expenses, as measured on <br />the City's budgetary basis. For purpose of this policy, operating expenses are defined <br />as all budgetary -basis expenses, excluding interfund transfers and capital outlay. <br />CITY COUNCIL COMMUNICATION <br />18 <br />