City Council

18. Year End Budget Report and Allocation of Excess Fund Balance for the Year\nEnding June 30, 2023\nRecommendation:\nIt is recommended that the Town Council:\n1. Receive and file the Budget Report for the fiscal year ending June 30,\n2023.\n2. Amend the 2023-24 General Fund Budget and Special Revenue Fund\nBudget by transferring $4,550,000 from the General Fund unassigned\nfund balance in accordance with the Reserve Policy, as follows, and\nidentified in Exhibit A.\nReserve Policy Designations Recommendation\nPension Stabilization Reserve $ 500,000\nAquatics and Recreation Facility Reserve 500,000\nVehicle & Equipment replacement 500,000\nCapital Reserve 3,050,000\nTotal $ 4,550,000