The City of Sausalito has a Financial Reserves Policy that is reviewed during the preparation of the City Budget. The key components of this policy are:
Budget Stabilization Shortfall Reserve Policy
Five percent (5%) of the City’s annual expenditures are set aside annually and assigned by the City Manager as prescribed by Governmental Accounting Standards Board Statement No. 54, to provide for budget shortfalls as a result of 5% economic fluctuations in the City’s revenue base.
Emergency Shortfall Reserve Policy
Ten percent (10%) of the City’s annual expenditures are set aside annually in unassigned general fund balance as the City's emergency or "rainy day" fund and is subject to further appropriation by the City Council.
Last updated: 12/9/2015 2:43:07 PM