Each year the City's General Fund is reviewed as part of the closing process as we near the fieldwork portion of our annual audit.  The city's fund balance policy for the General Fund targets a 35 to 50 percent unassigned fund balance of subsequent year's expenditure budget.

Preliminary results show that after adjustments to non-spendable and committed fund balances, the City General Fund has an estimated unassigned fund balance of $673,933 over 50% of the budgeted 2022 expenditures.

In the past, any excess fund balance has been directed towards one-time events such as capital improvements and future debt service payments.  This year's request is no different.  Staff is requesting a General Fund transfer of $680,000 to the Capital Improvements Fund.