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Policies <br />(con't) <br />44. Full disclosure will be provided <br />in the annual financial <br />statements and bond <br />representations. <br />Fund Balance Policy <br />45. General Fund - The minimum <br />unreserved, undesignated fund <br />balance of the General Fund <br />shall be calculated annually at <br />15% of the then current <br />operating budget. <br />46. Water and Sewer Utility Funds, <br />Operating & Maintenance <br />Reserve - The minimum <br />unrestricted cash balances of <br />the Water and Sewer Utility <br />Funds for operating and <br />maintenance shall be <br />calculated annually based on <br />that year's budget and shall <br />include the equivalent of 15% <br />of the then current operating <br />and maintenance budget. <br />47. Water and Sewer Utility Funds, <br />Capital Reserve - The minimum <br />unrestricted cash balances of <br />the Water and Sewer Utility <br />Funds for capital shall be <br />calculated annually based on <br />that year's estimated <br />depreciation and shall include <br />the equivalent of the current <br />annual depreciation expenses. <br />16 <br />