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SUBJECT: RESERVE POLICIES <br />DATE: AUGUST 23, 2021 PAGE 3 OF 3 <br />• The Recreation Fund requires a recurring annual transfer from the General Fund. <br />The maximum annual General Fund transfer is calculated by taking the General <br />Fund subsidy for the Recreation Center/Memory Square Pool in 2017 ($986,300) <br />and inflating that amount on an annual basis by the regional Consumer Price <br />Index for All Urban Consumers. The 2017 General Fund subsidy level is the <br />starting point for the calculation, since that is the last year that the Recreation <br />Center and Memory Square Pool were funded within the General Fund. <br />2.6 Golf Course Fund Reserves. <br />• The policy sets the minimum reserves at 15% of current operating expenditures. <br />• To assist the Golf Course Fund in meeting its reserve minimum, beginning with <br />the 2021 fiscal year, all Golf Course capital outlay is funded through the Capital <br />Projects Fund. <br />ATTACHMENTS <br />1. Reserve Policies <br />CITY COUNCIL COMMUNICATION <br />50 <br />