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General Fund Long -Term Forecast <br />Incorporating the revenue assumptions, the operating expenditure targets, and the proposed <br />interfund transfers outlined in the preceding discussion, the following chart summarizes a history <br />and projection of revenue, expenditures, and fund balances for the General Fund. <br />I I I I I I <br />I 1 <br />1 I 1 1 <br />The City's current Reserve Policy for the General Fund states, <br />The minimum unrestricted fund balance of the General Fund shall be maintained at or above <br />15% of current operating expenditures. For purpose of this policy, operating expenditures are <br />defined as all expenditures less any one-time, non -recurring transfers to other funds. Annual, <br />recurring support transfers to other funds will be included in the definition of current operating <br />expenditures. <br />While the minimum unrestricted fund balance is set at 15% of current operating expenditures, <br />the targeted unrestricted fund balance will be at or above 25% of current operating <br />expenditures. <br />The General Fund fund balance is projected to end 2028 with approximately $9.4 million, while <br />remaining in compliance with both reserve policies, minimum and target. <br />11 <br />