City council to vote this week on lowering percentage.
The city of La Crosse has millions in the bank.
A proposal getting a vote this week could slice into that a little. The city council votes on dropping the minimum amount the city keeps in reserves for emergencies.
City council president Martin Gaul says, with due diligence, nothing should go wrong with the plan.
“We just need to keep our eye on the ball and stay within the restraints that we all know we have to operate under,” Gaul said.
The current minimum cash reserve of 25 percent of the annual budget would be dropped to 20 percent under the proposal.
Gaul doesn’t see anything going wrong if it’s done right.
“I think that as long as we keep our eye on the ball, we keep judicious expenditures and income and, while preparing ourselves for the future, I think that this is going to be to our benefit,” he said.
There was a time that some on the La Crosse city council got really nervous when the city dipped into cash reserves for anything but, apparently that time has passed.
Gaul believes the drop in percentage makes sense for a city that continually acts fiscally responsible.
“We have been able, over the last few years, actually return excess funds and had excess funds over and above our minimum levels,” Gaul said.
The city’s current budget is around $70 million.