Council evaluates reserve funds

AIRWAY HEIGHTS — At the June 10 City Council meeting, City Manager Albert Tripp provided an overview of the city’s reserve funds policy and its evolution since 2009.

Tripp explained the existing policy, which maintains a cash balance for emergencies, capital expenses, payroll and unanticipated events.

“Back in 2009, our budget was $4 million, and now it’s $14 million. We utilize 8% as a planning basis,” Tripp said, noting that the city is currently looking at a reserve range of $1.1 million to $2.1 million, with two months of operating expenses estimated at $2.4 million.

The city’s present res...