General Fund Surplus Policy
October 19, 2026
Finance & Technology Department
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GF SURPLUS & EMGERGENCY RESERVES POLICY
Current Policy
Surplus to 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 Civic Center Fund Available Balance - $8.1m
Policy can be changed at anytime. However, FY 25/26 must be changed by Nov 9, 2026 for Financial Documents.
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CIVIC CENTER PHASE 3
Design Contract was awarded to Darden Architects for $5.4 million (6/1/2026) Design includes City Hall + police training facility
Total project cost is estimated to be $82 million (includes design)
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CIVIC CENTER PHASE 3 AVAILABLE FUNDS
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POTENTIAL CIVIC CENTER PHASE 3 FUNDING
Debt amount will change based on surplus policy.
Includes $5.4 million design contract (awarded June 1, 2026)
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LOAN SCENARIOS
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GF DEBT SUMMARY ($48 MILLION SCENARIO)
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GF DEBT SUMMARY ($63 MILLION SCENARIO)
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GF DEBT SUMMARY ($75 MILLION SCENARIO)
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Large projects are difficult to fund in any given year due to funding availability. Majority of surplus is from vacancy savings which can be set aside to fund large projects over-time.
The City has many projects that are needed and have been deferred due to funding priorities. To name a few:
Civic Center Phase 3
Construct East Regional Park
Corp-Yard expansion
Aquatics complex
Acquire land for the third regional park
Convention Center refresh and/or expansion
Public art
Road projects that have no funding source - such as Santa Fe extension Surplus funds can be set-aside for one project or split amongst multiple by having a policy that assigns a percentage of the surplus to each project
USE OF SURPLUS FUNDS
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QUESTIONS / RECOMMENDATION
Motion to include project(s) and percentages
Motion to include project(s) and percentages