Salinas City Council
April 26, 2022

RECOMMENDED RESERVE REQUIREMENTS & BALANCES Exhibit D
Current Recommended
Balance Target Transfer(s) Balance
Available (Unreserved) Fund Balance
General Fund 19,852,000 (18,098,000) 1,754,000 Trfrs to GF UFB, GF CR, G Measure E Fund 7,961,800 (1,029,000) 6,932,800 Trfrs to ME UFB, ME CR, Measure G Fund 11,131,000 (2,144,000) 8,987,000 Trfrs to MG UFB, MG CR, Total Available (Unreserved) Fund Balance 38,944,800 (21,271,000) 17,673,800 Reserves
Proposed
General Funds Economic Contingency Reserve
General Fund 12,275,000 12,275,000 12,275,000 100% of target balance Measure E Fund 1,726,000 1,726,000 1,726,000 100% of target balance Measure G Fund 2,684,000 2,684,000 2,684,000 100% of target balance Total General Funds Economic Contingency Reserve 16,685,000 16,685,000 16,685,000 General Funds Infrastructure Maintenance Reserve
General Fund 5,256,000 2,628,000 2,628,000 50% of target balance Measure E Fund 712,000 356,000 356,000 50% of target balance Measure G Fund 1,400,000 700,000 700,000 50% of target balance Total General Funds Infrastructure Maintenance Reserve 7,368,000 3,684,000 3,684,000 General Fund Facilities Maintenance Reserve 3,154,000 1,577,000 1,577,000 50% of target balance Vehicle Replacement Reserve 13,671,000 9,000,000 9,000,000 66% of target balance Current Recommended
Balance Target Transfer(s) Balance
Current
Operating Reserve
General Fund 7,457,000 (7,457,000) - Trfr to GF CR Measure E Fund 1,053,000 (1,053,000) - Trfr to ME CR Measure G Fund 1,240,000 (1,240,000) - Trfr to MG CR Total Operating Reserve 9,750,000 (9,750,000) -
General Fund Deficit Contingency 425,000 (425,000) - Trfr to GF CR Pension Reserves
New York Life 1,000,000 (1,000,000) - Trfr to Section 115 trust Irrevocable Supplemental Section 115 Trust 3,000,000 3,000,000 6,000,000 Trfr fr. GF AFB OPEB Reserve 1,000,000 1,000,000 Trfr fr. NYL pension rsv Cannabis Revenue Reserve 2,000,000 (2,000,000) -
Productivity Bank (Salinas Plan) 500,000 (500,000) - Trfr to GF CR