FINANCIAL ADVISORY BOARD AGENDA ITEM
ACTION REQUESTED:title
Request a recommendation on the temporary amendment of financial principles related to reserve requirements and balanced budget in advance of the 2021 budget
body
DEPARTMENT: Finance Department
SUBMITTED BY: Raymond Munch, Budget Manager
BOARD/COMMISSION REVIEW:N/A
BACKGROUND:
To mitigate the financial impact of the COVID-19 pandemic, the City is evaluating its current financial philosophies and discussing various measures that will provide financial flexibility in 2020 and 2021.
DISCUSSION:
See July Financial Report to City Council for more detailed information.