Fund Balance Policy Review
At a glance
- What: Review of the town's general fund balance policy (33.33% of budgeted expenditures, set on total fund balance, last updated 2020), prompted by a state auditor recommendation and the question of how much reserve is right for Cary.
- Where it stands: council received part two of fund balance training on 2026-09-10 and leaned toward a simpler policy based on available reserves; no decision yet. Further discussion is planned at later work sessions.
Log
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2026-09-10 - Town Council Work Session - Finance director covered the five categories, the FY2025 result ($106.4M, about 41% against the 33.33% policy; unassigned about 20%) and peer comparisons; council favored a simpler available-reserve basis and weighed sales tax and disaster risk. Policy options deferred to a later work session (from auto-captions).
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2026-09-10 - Town Council Meeting - Town Manager noted the work session gave staff and Council fund balance training, with more parts expected in November and annual training afterwards (from the speech-to-text transcript).