R2025-303 Resolution Amending City Council Policies Fund Reserves

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RESOLUTION NO. R2025-3°3 RESOLUTION AMENDING -CITY COUNCIL POLICIES, FUND RESERVES- BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DECATUR, ILLINOIS: Section 1. That Section B.2. of "City Council Policies" be, and the same is hereby, approved and amended as follows: B. FINANCIAL POLICIES 2. Fund Reserves (February 3, 2020) It is the policy of the city of Decatur, Illinois to maintain fund reserves sufficient to maintain normal governmental cash flow requirements during the course of the year, provide resiliency against catastrophic loss, buffer for the occurrence of one or more community emergencies, demonstrate that the city has the capacity to properly manage its finances often contributing directly to lower debt financing costs,and/or endure a sustained economic downturn. The desire to maintain fund reserves in the General Fund should be tempered by the City Council's obligation to maintain taxes at a rate that is not burdensome. The City will maintain a General Fund cash reserve equal to seventy-five (75) days, not including capital expenditures valued at more than $100,000, with the understanding that month-to-month reserves will vary based on expenditure demands and fluctuating revenue patterns. Fund reserves for funds other than the General Fund may be separately approved from time-to-time by the City Council. PRESENTED and ADOPTED 17th day of November 2025. _ 11 /II L I / LIE MOO• WOLFE, M/ 1 I R ATTEST: 1116' 111 0 161 J CITY CLERK