092705 Taxi RatePotential Uses of
FY 2005 Fund Balance
September 27, 2005
Current Policy
To maintain the Undesignated General
?
Fund Balance at between 8 and 12
percent of Next Year’s Estimated
Revenues, with a target level of 10%
Available Fund Balance
Current FY 2005 Undesignated Fund
?
Balance is at 11.2% of FY 2006
Revenues or $96.5 million.
At the 10% level there would be $10.4
?
million available for appropriation.
Process
Determine list of potential items to be funded
?
Meet with Mayor and Vice Mayor to determine
?
preliminary priorities to recommend to City
Council
Finalize list with Council on October 4
th
?
Public Hearing on October 25
th
?
Council consideration of Appropriation
?
Ordinance on November 1
st
Preliminary List