2018 Supplemental Budget Report - Laserfiche WebLink

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9.044.000 8.909.090 7.000.060 6.000.000 5.044.000 4.000.400 3.044.464 204Q464 1.000,444 Open Space & Parks Fund 2005 2406 2007 200E 2009 2010 2011 2012 2013 2014 2015 2016 2017 201E 2019 2020 2021 Reue;nuwe = Eipendhtures s Fund 9abnce -Munimum The City's Reserve Policy for the Open Space & Parks Fund states, The minimum fund balance of the Open Space and Parks Fund shall be maintained at or above 15% of current operating expenditures. For purpose of this policy, operating expenditures include only open space and parks operations and exclude all interfund transfers and capital outlay. The targeted fund balance of the Open Space and Parks Fund will include the minimum fund balance plus an amount sufficient to cover the City's share (considering other likely joint partners) of the total projected cost of acquiring the three highest priority candidate open space properties. As the highest priority properties are purchased, this amount will be adjusted. The projected Open Space & Parks Fund balance at the end of 2021 is $850,000. This equates to 30% of operating expenditures and is above the minimum fund balance as defined in the Reserve Policy. The Council has expressed interest in modifying the policy on targeted fund balance, which will be discussed further at a later date. Capital Projects Fund Long -Term Forecast Incorporating the revenue projections, the operating expenditure targets, the interfund transfer projections, and the updated C -I -P projections outlined in the preceding discussion, the following graph summarizes a history and projection of revenue, expenditures, and fund balances for the Capital Projects Fund. 12