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The Government Finance Officers Association's (GFOA) provides guidance on unrestricted fund balances in their Best Practice, “Appropriate Level of Unrestricted Fund Balance in the General Fund (2002 and 2009) (BUDGET and CAAFR).” “GFOA recommends, at a minimum, an “… unrestricted fund balance of no less than two months of regular general fund operating revenues or regular general fund operating expenditures.” Bear in mind that no amount of reserves may be adequate in the event of a major financial crisis, natural disaster, or other extraordinary event.

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