Agenda Summary
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Requesting the appropriation of $5,000,000 from the Unreserved Fund Balance ("Free Cash") to the Rainy Day Stabilization Fund.
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Official Text
To the Honorable City Council:
The Mayor respectfully requests that this Council appropriate $5,000,000 from Unreserved Fund Balance ("Free Cash") to the Rainy Day Stabilization Fund.
The Rainy Day Stabilization Fund is a necessary reserve to protect the City against an economic downturn that would threaten the provision of essential services.
This measure is in accordance with the City's Free Cash policy.
Appropriate staff will be available to answer any questions you may have. Thank you for your consideration of this matter.
Respectfully Submitted,
Katjana Ballantyne, Mayor