A RESOLUTION TO AMEND AND RESTATE RESOLUTION 109-17 TO ADOPT AS A
GOAL THAT THE CITY MAINTAIN AN 11 PERCENT MONTHLY UNRESTRICTED
CASH BALANCE AND A 25 PERCENT GENERAL FUND RESERVE BALANCE AT
YEAR-END; THAT FUTURE BUDGETS OF THE CITY BALANCE WITHOUT THE USE
OF UNOBLIGATED RESERVE BALANCES; AND ESTABLISHING A CITY COUNCIL
POLICY REGARDING THE USE OF PROJECTED REVENUE FROM FEE OR TAX
INCREASES IN ANY BUDGET ADOPTED BY THE CITY COUNCIL.
WHEREAS, the Home Rule Charter of the City of Sioux Falls authorizes the City Council to
appropriate City funds and set City policy; and
WHEREAS, the City Council desires adequate reserves to cash flow City government and meet
any emergencies; and
WHEREAS, the City Council desires an ongoing plan for a fiscally sound budget; and
WHEREAS, the City Council expects potential new revenue streams be approved prior to final
adoption of the budget;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF SIOUX FALLS, SD:
That the City establish as a goal that it maintain a minimum unrestricted cash balance at the end
of each calendar month equal to 11 percent of the general fund budget for that fiscal year and a
general fund unreserved fund balance as of December 31 for each fiscal year equal to 25 percent
of the general fund budget for that fiscal year. If the unrestricted cash reserves at any month-end
or the general fund unreserved fund balance as of December 31 shall fall below these thresholds,
the Mayor shall, as soon as practical thereafter, present the City Council with an explanation and
plan for replenishing the unrestricted cash balance or general fund reserve balance to the targeted
BE IT FURTHER RESOLVED:
That the City establish as a goal that a Mayor’s proposed general fund budget for each fiscal year
provide for balance between projected revenues and expected expenditures without the use of
general fund unreserved fund balances, and that the elected and appointed officials of the City
use their best efforts and mutual cooperation to accomplish that goal. If a Mayor believes that the
financial condition or needs of the City require the use of funds from general fund unreserved fund balances in any proposed budget,
such budget proposal shall include a statement of the reasons that the Mayor believes justify the use of the general fund unreserved funds; and
BE IT FURTHER RESOLVED:
That it be established as the policy of the City Council that if a Mayor’s proposed general fund
operation budget includes projected revenues from increases in fees, charges, taxes, or other
similar sources that require City Council approval, the ordinance or ordinance amendment
authorizing such increase should be presented to and approved by the City Council prior to the
submission of the proposed budget.
Stehly Asks City to Use Sales Tax to Offset Sewer Plant Expansion
Sioux Falls City Councilwoman Theresa Stehly is proposing the following resolution.
From: Stehly, Theresa
Sent: Thursday, November 29, 2018 9:57:16 AM
To: City Council
Subject: Fw: Resolution Email
Please Do not reply all.
For your consideration, I have attached a resolution that I am proposing on Tuesday.
The WORD document shows the changes made to the original resolution and the PDF is what will be voted on this Tuesday.
My resolution would eliminate an existing city council policy that enterprise accounts should cover the true cost for their respective accounts. If approved, this resolution would allow the city council to react quickly to any future rate crisis scenario by allowing council consideration of other revenue sources including the 2nd Penny.
Feel free to contact me if you have questions.
Thanks for your consideration,