ITEM TITLE:
Work Session - Fund Balance Policy
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: n/a
Unencumbered Balance: n/a
Funding Source: n/a
RECOMMENDATION:
Provide feedback and/or direction to staff regarding Fund Balance Policy
SUMMARY STATEMENT:
This work session reflects a first pass at addressing Fund Balance Policy, and is meant to be brief and high-altitude.
All information in the attached Fund Balance Policy represents placeholder language. Council is encouraged to make recommendations at this first work session with respect to the highest level direction as it relates to Fund Balance Policy.
Recognizing that a conversation regarding Council Contingency Reserve remains the impetus for this work session, subsequent work session(s), including regular Budget Work Sessions, will deal with procedural details and specific reserves.
Staff is looking for Council Consensus with respect to draft policy language.