One thing I didn’t go into in my story today is Fremont’s other reserve funds. Thebudget uncertainty reserve fund, which had been $11.2 million just last year, is now expected to dry up sometime next fiscal year.
But the city has two other reserve funds that they could use to plug their budget deficit. As of July 1, the city’s fund for natural disasters stood at $18.3 million. It’s fund for new programs that could generate new money stood at $3.7 million. That’s $21 million in extra reserves the city could use, but will it?
When I asked the city manager, he said, “Those are two tools in the tool chest.” He spoke very visually yesterday.