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SUBJECT: 2025/2026 BUDGET RETREAT <br />DATE: JULY 24, 2024 PAGE 12 OF 16 <br />The City's Reserve Policy for the Parks Fund states, <br />The minimum fund balance of the Parks Fund shall be maintained at or above <br />15% of current operating expenditures. For purpose of this policy, operating <br />expenditures include only parks operations and exclude all interfund transfers <br />and capital outlay. Use of reserves below the 15% minimum requires <br />authorization from City Council. <br />The Parks Fund requires a recurring annual transfer from the General Fund to <br />fund its operating deficit. This annual transfer will be calculated by taking the <br />amount of funding provided by the General Fund for Parks in 2007 ($626, 900) <br />and inflating that amount on an annual basis by the regional Consumer Price <br />Index for All Urban Consumers. The 2007 funding level for Parks is the starting <br />point for the calculation. In 2024, the budgeted annual transfer from the General <br />Fund amount was $1,017,900. <br />Recreation Fund <br />Incorporating the latest information, the following graph summarizes historical and <br />forward -looking projections of revenue, expenditures, and fund balances for the <br />Recreation Fund. <br />1 <br />1 <br />1 <br />A <br />1 <br />1 <br />CITY COUNCIL COMMUNICATION <br />13 <br />