4. Provide funds for unforeseen expenditures related to emergencies.

City Council Meeting · 2026-06-09 · agenda_item

The City of Clermont is reviewing its Comprehensive Budget Policy, which includes establishing a Reserves Policy. This policy outlines how the city will manage its fund balance, including setting aside funds for emergencies and future capital projects. The policy details different classifications of fund balance, such as non-spendable, restricted, committed, assigned, and unassigned. It also sets reserve requirements for the General Fund and Enterprise Funds, aiming for specific percentages of annual expenditures or operating expenses. The City Council will review and potentially adjust these reserves during the annual budget process. This policy review is currently under review and may lead to future financial planning and budget allocations that could involve various city departments and services.

General Fund Unrestricted Fund Balance requirement

25 %

Enterprise Funds unrestricted net assets requirement

90 days