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Title:
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Recommendation to approve the amendment to Washoe County's fund balance policy to include specific net position targets for the Health Benefits Internal Services Fund and to establish minimum levels for working capital within the Health Benefits Fund, aligning with the Government Finance Officers Association (GFOA) best practices. The policy will set a target range of 15% to 25% of annual operating expenses and other uses, excluding capital outlay, to ensure financial sustainability and mitigate risks associated with unforeseen revenue fluctuations or unanticipated expenditures. Additionally, the policy will include provisions for replenishing net position balances to the target levels within a timeframe not exceeding two years and holding insurance rates steady when the net position exceeds the maximum of 25%, taking into account the current insurance market environment. Finance. (All Commission Districts.) FOR POSSIBLE ACTION
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