1. Fund Balance Policy Tuesday, March 10th 2015
Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGMA
Finance Director
Lina Williams
Budget & Financial Analyst

2. Purpose of Policy
Establish level of “Working Capital” (cash) in operating & other funds
Hedge against sudden decreases in revenue or unexpected expenditures
Provide guidance for increasing/decreasing levels of fund balance

3. Why Update? Changes in operations or goals for specific funds
Address Auditor recommendations

4. Proposed Changes Remove Tennis Center & Golf Course Funds
(no longer enterprise funds)
Revise policy for Solid Waste Fund as recommended by Auditor
Increase range:
From 5% min/10 % max
To 10% min/20% max

5. Next Step
Approve Resolution updating the Fund Balance Policy

6. Questions?