ACTION 3.2.1

Develop a long term strategy to stabilize the Unassigned Fund Balance and maintain the fund balance policy.

In Progress

Key Performance Indicators

Finance to develop a long term strategy to stabilize the UFB by the first quarter of 2025.
In Progress
Current Status
Projected fund balance beyond 2025 is projected to be reduced as surplus projections become smaller. The UFB range was amended by the City Council to 15% to 19%. UFB is used on an annual basis to offset the tax rate and smooth out tax spikes. Smaller amounts of UFB will be available to offset the tax rate in subsequent years.
Timeline: 2025
Due Date: N/A
Responsible: Finance
KPI Details