D. Assets, Liabilities, Deferred Inflows/Outflows of Resources, and Net Position/Fund Balance (Continued)

City Commission Meeting · 2026-04-27 · agenda_item

This item concerns the City of St. Augustine's fund balance policy, which was established by a resolution in 2013. The policy commits a portion of the General Fund balance for emergencies or unanticipated events, requiring this committed amount to be no less than 33.33% of the City's budgeted general operating revenues. This committed fund balance is specifically for maintaining public services during emergencies or disasters, or for major unbudgeted events. The City uses restricted resources first, then unrestricted resources (committed, assigned, and unassigned) as needed. This is a review of financial policies and reporting, not a construction project. Therefore, there is no direct construction work or related trades currently being initiated by this agenda item.

fund balance commitment percentage

33.33 %