Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET
Agenda Title:

City of Independence WPC Fund Resiliency and Cash Balance Policy
Recommendations:

Staff recommends giving feedback to staff in order to prepare a policy for Council consideration of Resilency and Cash Balance Policy for the City's WPC Utility Fund.
Executive Summary:

The City had our Utility Municipal Advisor, PFM, conduct a Resiliency and Cash Balance study for the three utilities to ensure they maintain a strong financial position and was viewed favorably by bond rating agencies.  The recommended policy was presented to the PUAB on February 18, 2021 and again on March 18, 2021. The PUAB recommended a target of $10 million. The Resiliency and Cash Balance study for WPC is attached. 
Department:          Finance and AdministrationContact Person:          Bryan Kidney

REVIEWERS:
DepartmentAction
Finance DepartmentApproved
City Clerk DepartmentApproved
City Managers OfficeApproved
City Clerk DepartmentApproved
Council Action:          Council Action:         
ATTACHMENTS:
DescriptionType
WPC Fund Resilency and Cash Balance PolicyOrdinance