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SUBJECT: <br />2020 RECOMMENDED BUDGET <br />DATE: <br />SEPTEMBER 24, 2019 <br />PAGE7OF9 <br />50,000.000 <br />45,000,000 <br />40.001000 <br />35,00%000 <br />30,000,000 <br />iJ,1.Il/1yRol,l.lSllF <br />20,000.000 <br />15,000.000 <br />10,000,000 <br />5,000,000 <br />Consolidated Utility Fund <br />-41F- <br />11 <br />4. <br />20013 2009 2010 2011 2012 2013 2014 2015 2015 2017 2018 2019 2020 2021 2022 2023 2024 <br />— Revenue — Expenditures Working Capital Minimum <br />The 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 the <br />City's budgetary basis. For purpose of this policy, operating expenses are defined as all <br />budgetary -basis expenses, excluding interfund transfers and capital outlay. <br />The Consolidated Utility Fund reserves are projected to remain at approximately $15 <br />million through the end of 2024. There are substantial capital improvements planned <br />beyond 2025 that will reduce these reserves in subsequent years. <br />Ending 2024 reserves for all the individual utility funds are projected to remain in <br />compliance with the Reserve Policy. <br />CITY COUNCIL COMMUNICATION <br />17 <br />