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Fund Balance

The unassigned General Fund balance of the City was $83,397,574 on June 30, 2015, which is 17.9 percent of the

FY16 general fund budget. At this point in the fiscal year, the estimated unassigned General Fund balance as of

June 30, 2016 is projected to be near the $68.0 million level. The City seeks a fund balance level of approximately

14% of the subsequent year’s budget to assure necessary resources to meet unanticipated emergencies, provide

adequate cash flow and provide the needed measure of financial position to best assure maintenance of the

AAA/Aaa credit ratings for the City.

The adopted budget for FY17 includes the appropriation of $13.5 million of General Fund fund balance and is

comprised of $13,000,000 expected from positive budget variances from FY16 and $462,463 of rollover budgets

that were funded in FY16 but will be expended in FY17. Appropriations of this amount, which is consistent with

prior years, should still allow the June 30, 2016 unassigned fund balance to be maintained at an approximate level

of 14 percent of the FY16 budget.

The following chart reports the amount of appropriated fund balance and unassigned fund balance amounts for the

previous five years. Generally, the actual annual operating revenues themselves have been sufficient to meet the

level of operating expenditures, thus allowing the continuing fund balance appropriations.

Fiscal Year

Appropriated General

Fund Balance

(1)

% of General

Fund

(1)

Actual Unassigned

General Fund Balance

% of Subsequent Years

General Fund Budget

2008-09

$13,000,000

4%

$61,492,519

15%

2009-10

$13,000,000

4%

$59,929,840

15%

2010-11

$13,846,859

4%

$58,175,900

14%

2011-12

$13,000,000

4%

$62,813,434

15%

2012-13

$13,000,000

3%

$67,990,448

16%

2013-14

$13,403,396

3%

$73,079,992

17%

2014-15

$13,000,000

3%

$83,397,574

18%

2015-16

$13,000,000

3%

$68,083,289

(2)

14%

2016-17

$13,462,463

3%

1. Operating General Fund only — does not include debt service fund or other funds consolidated for financial statement purposes.

2. Projected.

B-22