General Fund Balance Policy and Stormwater Transfers

At a glance

Based on auto-generated captions; names and details may be misheard.

What: resolution (agenda item 29) amending the general fund balance policy so reserves above 365 days of operating expenses at fiscal year end are reviewed for transfer to the stormwater runoff management system account, up to $10 million in total.
Where it stands: on 2026-10-20 the Finance Committee failed to advance it and made no recommendation. Wolfe opposed until the sponsor can explain it at council.
Next: goes to the full City Council without a committee recommendation.

Each year, any excess over 365 days of operating expenses would be added to the reappropriation resolution for transfer to the existing stormwater account, until $10 million has been moved.
Reserves were exactly 365 days at June 30, 2026 ($55,069,825 spendable), so no transfer would have occurred this year.

Wolfe and Laybourn questioned the need, since council can already direct reserves to stormwater at any time; Wolfe called it a message to future councils.
Rinne saw it as a way to show the public the city is contributing to stormwater needs, alongside any utility. He did not want to commit to this method, but moved adoption to allow discussion.
Moody wanted specific projects identified. Rinne said the project list is about $60 million (bad inlets, Hilltop culverts, Crow Creek and Dry Creek cleanup).
City engineer Cobb had asked for no more than $6 million a year and said he currently lacks staff to manage it; two engineer offers are out.
Aldrich appeared to be the sponsor but did not respond when called on (unverified).

About 11 minutes across 1 meeting (from transcript timestamps; approximate).

Meeting	Minutes
2026-10-20 - Finance Committee	11

2026-10-20 - Finance Committee - motion failed, no committee recommendation; sponsor absent; debate over need versus signaling.