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45..N0,0a0 <br />40,000.00a <br />35..000,000 <br />, ,00n <br />25..000000 <br />20,000,000 <br />15,000.000 <br />10,000,000 <br />5.000,000 <br />Consolidated Utility Fund <br />Y <br />rt <br />ill <br />YHi <br />r <br />2008 2009 2010 2011 20U 2013 P014 2015 201b 20i7 P01B 2019 2020 2021 2022 2023 2024 <br />— Revenue Emend Fture WIN ng p Min irnurn <br />The Reserve Policy for the Utility Funds states, <br />The minimum working capital for the Water, Wastewater, and Storm Water Utility Funds shall be <br />maintained at or above 25% of current operating expenses, as measured on the City's budgetary basis. <br />For purpose of this policy, operating expenses are defined as all budgetary -basis expenses, excluding <br />interfund transfers and capital outlay. <br />The Consolidated Utility Fund reserves are projected to remain at approximately $15 million through <br />the end of 2024. This equates to 135% of operating expenditures and is well above the minimum fund <br />balance as defined in the Reserve Policy. There are substantial capital improvements planned for after <br />2024 that will significantly reduce these reserves in subsequent years. <br />Ending reserves for all the individual utility funds are also projected to remain in compliance with the <br />Reserve Policy. <br />Golf Course Fund <br />Incorporating the revised revenue projections, operating expenditure projections, interfund transfer <br />projections, and C-I-P projections outlined in the preceding discussion, the following graph summarizes <br />a history and projection of revenue, expenditures, and working capital for the Golf Course Fund. <br />14 <br />