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Report and recommendations on year ending 6-30-14 fund balance
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Presented By: Kurt Hodgen.
Recommendation and Review
As you are aware, our Financial Management Policies require that the City maintain a fund balance of at least 18% of the amount of the General Fund budget. At July 1, 2014, the fund balance met that requirement amount and had an additional $6,354,036 remaining.
Staff and Finance Committee members have met to discuss recommended allocations of the $6,354,306 and such recommendations are included on the attached spreadsheet.