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SUBJECT: OPEN SPACE & PARKS FUND RESERVE POLICY <br />DATE: OCTOBER 10, 2017 <br />PAGE2OF2 <br />FISCAL IMPACT: <br />Attached is a table presented to the Finance Committee at their September 18 meeting, <br />which summarizes the calculations for the three options. <br />Option 1: Targeted fund balance = $1.3 million <br />Option 2: Targeted fund balance = $2.2 million <br />Option 3: Targeted fund balance = minimum fund balance = $366,000 <br />RECOMMENDATION: <br />The three targeted fund balance options are presented for further discussion. Staff <br />seeks direction regarding Council's preference, which will be included in the budget <br />presentation at the public hearing on October 17, 2017. <br />ATTACHMENT(S): <br />1. Targeted Fund Balance Calculations <br />CITY COUNCIL COMMUNICATION <br />