Monday, July 1, 2019

Metro's reserve fund balances are being permitted to drop below recommended levels.

In the recently passed fiscal year 2020 budget, several of Metro's reserve fund balances are being permitted to drop below recommended levels.  The following is from the Metro Council staff analysis:

Metro’s established policy is to maintain a fund balance equal to or greater than 5% for each of the six primary budgetary funds, the GSD General Fund, USD General Fund, and General Purpose School Operations Fund, as well as the three related primary debt service funds. However, three of these six funds will not meet this target in FY20.The Mayor’s proposed budget is projected to result in the following fund balance percentages by June 30, 2020:
•General Services District General Fund 5.0%
•General Services District Debt Service Fund 2.3%
•General Services District Schools Operations Fund 3.5%
•Schools Debt Service Fund 9.3%
•Urban Services District General Fund 5.1%
•Urban Services District Debt Service Fund 1.8%

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