El Paso city government eyes stricter rules for use of rainy day fund - El Paso Matters

El Paso city government eyes stricter rules for use of rainy day fund - El Paso Matters

Facing potential budget challenges, El Paso city leaders are preparing to establish when they can tap into one of the city’s reserve funds – the pot of money known as the unrestricted fund balance.The city doesn’t have formal guidelines outlining when or how it can use the fund – a “rainy day fund” not earmarked for specific purposes. While the city has grown the fund  the past decade to about $135.5 million, or 83 operational days, budget polic…