Title
Discuss and consider action to utilize the Project Reserve fund for specific projects.
Summary
This item has been included on the worksession to allow for discussion and on the regular meeting agenda to allow for discussion and potential action on the item.
The Capital Reserve Fund policy was established by Council in fiscal year 2011 to utilize excess General Fund revenues for capital and one-time projects. The resolution establishing the fund is attached to this agenda item. These funds are in excess of the charter mandated 25% reserve requirement and the 3% emergency fund requirement established by Council. The last time that these funds were allocated was fiscal year 2013. Examples of projects completed with these funds are improvements to Lake Pflugerville including the beach area, electrical system and north shore parking; animal shelter renovations; and street overlay projects.
Prior Council Action
The Capital Reserve Fund policy was approved by the City Council on September 27, 2011.
Deadline for Action
There is no deadline for action.
Fiscal Impact
The fiscal impact would be reflected in the projects selected.
Staff Recommendation
Discuss and consider action regarding the Project Reserve fund and projects.
Drafter
Brandon Wade
City Manager