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Fund Balance Strategy <br /> J1. Risk Management Reserve(Fund 062)-Gen Liab,Unemployment,Workers Comp 80,000 80,000 <br /> Set aside annually budgeted deductible for claim settlement for General Liability($25,000),Workers Compensation <br /> ($25,000),and Unemployment($30,000). <br /> J2. Private/Public Road Funding(Gen'I Fund Designated Balance) 200,000 200,000 <br /> Set aside of$200,000 for the public/private road program.The program is in a preliminary stage of development and <br /> could be designed as a matching program. <br /> J3. Pension Reserve(Current Balance-$500,000) 70,000 70,000 <br /> Continue to set aside for pension liability and contribution additional$70,000.Total unfunded pension liability as of <br /> June 30,2014 Valuation is$1,802,406. <br /> J4. Disaster Contingency(Current Balance-$1,250,000) 0 <br /> Set aside funds for use during a natural disaster.Per FEMA,local jurisdictions should have enough resources to <br /> survive the first 48-72 hours prior to distribution of resouces. <br /> J5. IT Equipment Replacement Reserve(Current Balance-$15,000) 5,000 5,000 <br /> Set aside funds to rebuild the Town's technology infrastructure,including servers,computer modules,uninterruptible <br /> power supply,and related softwares. <br /> J6. Operating Contingency-20%of Operating Budget <br /> Best practice for financial health is to designate operating contingency at 20%of operating budget <br /> a. General Fund(Current Balance-$350,000) 1,412,396 0 <br /> b. Pathway Operations(Projected Balance @ 6/30/16-$638,822) 89,700 0 <br /> Pathway Operation has excess reserve from <br /> Transfer back to General Fund 551,182 640,882 <br /> Transfer to Pathway Capital Fund 0 <br /> c. Drainage Operations(Projected Balance @ 6/30/16-$426,315) 61,080 <br /> Drainage Operation has excess reserve from <br /> Transfer back to General Fund 365,236 426,316 <br /> Transferto Drainage Capital Fund 0 <br /> d. COPS Operation(Projected Balance @ 6/30/16-$156,808) 32,340 <br /> 5. ADJOURNMENT OF THE SPECIAL JOINT MEETING OF THE CITY <br /> COUNCIL AND FINANCE AND INVESTMENT COMMITTEE <br /> The meeting adjourned at 10:08 p.m. <br /> Respectfully submitted, <br /> 11� /.A <br /> Deborah Padovan <br /> City Clerk <br /> The minutes of the May 31, 2016 special City Council/Finance and Investment Committee <br /> meeting were approved as presented at the July 20, 2016 special City Council meeting. <br /> 9 <br /> Special Joint Meeting Minutes <br /> of the Town of Los Altos Hills City Council <br /> and the Finance and Investment Committee <br /> May 31,2016 <br />