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• Savings <br /> o Planned one-time expenditures and grant matching opportunities <br /> o Impact of significant capital projects identified in a long-term plan <br /> • Other Factors <br /> o Impact on city'bond rating <br /> o Requirements by external funding source <br /> D. Special Revenue Funds <br /> The city will maintain reserves in the Special Revenue funds at levels sufficient to provide <br /> working capital for current expenditure needs plus an amount that is estimated to be <br /> needed to meet legal restrictions,requirements by external funding sources and/or pay for <br /> future capital projects. Future capital projects must be identified and quantified in a <br /> written plan for the fund,which shall be included in the city's annual CIP. <br /> E. Debt Service Funds <br /> The city will maintain reserves in the Debt Service funds at levels sufficient to provide <br /> working capital for current expenditure needs plus an amount that is estimated to be <br /> needed to meet legal restrictions and requirements by external funding sources. <br /> F. Capital Project Funds <br /> The city will maintain reserves in the Capital Project funds at levels sufficient to provide <br /> working capital for current expenditure needs plus an amount that is estimated to be <br /> needed to meet legal restrictions,requirements by external funding sources and/or pay for <br /> future capital projects. Future capital projects must be identified and quantified in a <br /> written finance plan for the fund,which shall be included in the city's annual CIP. <br /> G. Monitoring and Reporting <br /> The Finance Director shall annually review with the City Council the status of the fund <br /> balances with this policy and present it to the City Council in conjunction with the <br /> development of the annual budget and/or other long-term financial planning documents <br /> such as the CIP. <br /> The city will annually review the adequacy of the reserve balances. <br /> The city will periodically review updates to rating agency methodologies and medians to <br /> make sure that the reserve policy is consistent to ensure maintaining its existing rating or <br /> that it positions itself for an upgrade. <br /> Financial Management Policies Page 10 <br />