Surplus Policy
July 21,2025
SURPLUS & EMERGENCY RESERVES POLICY
All surpluses be deposited into Emergency Reserve to maintain fund at a maximum 30% of operating expenditures.
Remaining surplus be deposited into the Civic Center/Public Safety Reserve Fund for future buildings 1-time monies & land sales be deposited into the Civic Center/Public Safety Reserve Fund for future buildings
SURPLUS
Current Policy – Surplus will be deposited into the Civic Center/PS Fund bringing the projected available total to $7.9 million.
This policy can be changed at anytime. However, FY 24/25 must be changed no later than Sept. 1, 2025 Policy Changes - Previous policies were based on setting aside funds for large projects:
Riverways Sports Park
East Regional Park Land Acquisition
Recreation Park Stadium Improvements
198 Open Space Land Acquisition
Surplus can be split amongst several projects based on a percentage, if desired
Potential Surplus funding options
Potential Future Projects:
East Regional Park
Corp Yard Expansion
Pool Complex
Purchasing land for a third regional park
Convention Center refresh and expansion
Public Art
Multi-purpose Recreation Facility
Final Phase of the Civic Center (Admin Building and Park) Road projects (Santa Fe)
QUESTIONS
Staff Recommends:
Move to continue with the current surplus policy (fund Emergency Reserves and the Civic Center Fund) for FY 24/25 and future surpluses.
Or
Move to approve surplus policy as revised for FY 24/25 and future surpluses to include funding the Emergency Reserves to 30% and then (Council to insert priorities and percentages).
Or
Move to approve surplus policy as revised for future surpluses( after FY 24/25) to include funding the Emergency Reserves to 30% and then (Council to insert priorities and percentages) Recommended Motion