CC 10-15-2024 Item No. 8. Uncommit Sales Tax Repayment Reserve_Staff PresentationOctober 15, 2024
Uncommitting the Sales Tax
Repayment Reserve
Classification
FY 2023-24
Q3 Year-End
Projection
FY 2024-25
Year-End
Projection as
of 10/20241
Restricted 20.7 20.7
Committed
Capital Projects
Reserve --
Economic Uncertainty
Reserve 18.0 18.0
Sales Tax Repayment
Reserve 74.5 -
Sustainability Reserve 0.1 .1
Unassigned 26.6**101.1
Other Classifications 10.1 10.1
Total Fund Balance $150.0*150.0*
Fund Balance –General Fund ($ in millions)
*Excludes unrealized revenues from The Rise
1Preliminary unaudited financial numbers
1.Approve an amendment to the City’s Committed,
Unassigned Fund Balance, and Use of One Time
Funds Policy to uncommit $74.5 million dollars from
the Sales Tax Repayment Reserve, resulting in those
funds becoming unassigned fund balance
Recommendations