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City of Reno presents budget recommendations to pay off debt, increase reserves and retain 15 firefighter positions

By ThisIsReno

cityofrenoThe City of Reno will host the first of two annual Budget Workshops this morning starting at 9 a.m. in the City Council Chambers on the first floor of City Hall. Attendees will receive a current Fiscal Year 14 update, as well as get valuable information on the City Manager’s recommended budget for FY 15.

The City of Reno’s total budget is $352 million. Of that, $159.6 million makes up the General Fund. In light of the recent news that the City of Reno will not receive another federal Staffing for Adequate Fire & Emergency Response (SAFER) grant fund, the City Manager recommends utilizing one-time funding from the Regional Transportation Commission to pay off City Hall debt ($3.7 million), freeing up $1 million each year over the next four years.

The City Hall debt payoff, savings from the recent Rosewood Lakes Golf Course operational agreement with The First Tee of Northern Nevada ($320,000) and efficiencies in the Fire Department budget ($550,800) will provide the ongoing funding necessary for 15 firefighters.

Another top fiscal priority for the City of Reno is to maintain a reserve level of more than 7%. Projected fund balance (reserves) for FY 15 will be greater than 7%, an increase over FY 13, which was only at 4.3%.

“Financial stability has been a top priority of this Council since I arrived at the City of Reno,” says Andrew Clinger, Reno City Manager. “This budget makes significant progress toward that goal by increasing reserves and reducing debt while funding critical public-safety needs as well.”

Fund balance has been increased to more than 7% to enhance the overall fiscal stability and address cash-flow concerns. The City of Reno hasn’t had a reserve level greater than 7% since 2008.

 

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