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11/8/2025 <br />5 <br />General Fund Reserves <br />•Policy: <br />•Reserve target: 20.0% <br />•Reserve range: 16.7% to 25.0% <br />•Reserve level: $31.2M or 20.1% of FY 2025/26 operating expenditures <br />9 <br />Enterprise Funds <br />•Water Operating Fund net income: $3.9M <br />•Reserve: $11.5M <br />•The 2023 approved rate increase improved financial results and improved <br />reserve level from 21% in FY 2023/24 to 29%, although reserve remains below <br />the 35% reserve target <br />•Sewer Operating Fund net income: $0.7M <br />•Reserve: $9.3M <br />•Above 35% reserve target <br />•Excess reserve is being utilized to fund capital projects in the 2025-27 budget <br />cycle <br />10 <br />9 <br />10 <br />Page 374 of 399