5.16.
| CC Regular Session |
| Meeting Date: | 03/10/2026 |
| Primary Strategic Plan Initiative: | {ud_pd8} |
Title:
Adopt Resolution #26-071 Approving the Transfer of Excess General Fund Revenues to the Equipment Revolving Fund, Facilities Construction Fund, Capital Maintenance Fund, and Public Improvement Recolving (PIR) Fund
Purpose/Background:
The City Council originally adopted a policy on February 22, 1994, known as the Excess Revenue Policy (Resolution #94-02-045-Resolution Establishing a Financial Policy for the Purpose of Allocation of Excess/Deficient General Fund Revenues) with the last amendment of this policy occurring on November 26, 2024 (Resolution #24-331) a copy of which is attached.
The Excess Revenue Policy states that the fund balance will be at 50% of the next year's operating expenditures, plus any encumbrances (the compensated absences addition was removed). After meeting these fund balance requirements at year-ending, December 31, 2025, $1,437,421.39 ($1,319,846.67-2024) remained as excess revenues to be transferred from the General Fund. The majority of the excess was a direct result of the removal of carrying the compensated absences as part of the 50% fund balance total.
As stated in the policy, transfers from the General Fund would be as such:
The Excess Revenue Policy states that the fund balance will be at 50% of the next year's operating expenditures, plus any encumbrances (the compensated absences addition was removed). After meeting these fund balance requirements at year-ending, December 31, 2025, $1,437,421.39 ($1,319,846.67-2024) remained as excess revenues to be transferred from the General Fund. The majority of the excess was a direct result of the removal of carrying the compensated absences as part of the 50% fund balance total.
As stated in the policy, transfers from the General Fund would be as such:
Facilities Construction Fund (10%) $143,742.13
Equipment Revolving Fund (30%) $431,226.42
Capital Maintenance Fund (30%) $431,226.42
Public Improvement Revolving (PIR) Fund (30%) $431,226.42
Equipment Revolving Fund (30%) $431,226.42
Capital Maintenance Fund (30%) $431,226.42
Public Improvement Revolving (PIR) Fund (30%) $431,226.42
Recommendation:
Staff recommends that $1,437,421.39 be transferred from the General Fund to the Equipment Revolving Fund in the amount of $431,226,42, the Capital Maintenance Fund in the amount of $431,226.42, the Public Improvement Revolving Fund in the amount of $431,226.42 and the Facilities Construction Fund in the amount of $143,742.13 per the Allocation of the Excess Revenue/Deficient policy
Outcome/Action:
Motion to adopt Resolution #26-071 Approving the Transfer of Excess General Fund Revenues to the Equipment Revolving Fund, Facilities Construction Fund, Capital Maintenance Fund and Public Improvement Revolving (PIR) at the stated rates.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Brian Hagen | Brian Hagen | 03/05/2026 11:21 AM |
- Form Started By:
- Diana Lund
- Started On:
- 02/19/2026 11:06 AM
- Final Approval Date:
- 03/05/2026