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F.C. Council Adopts Higher Fund Balance Reserve Level

“I don’t see anyone suffering as a result of this policy,” Falls Church’s Chief Financial Officer Richard LeCondre told the F.C. City Council tonight in response to concerns that increasing the City’s Fund Balance Reserve level from 12 to 17 percent of the annual general fund revenues, and the establishment of a new Capital Reserve Fund, would be achieved at the expense of cuts to the School Board budget or other vital programs of the City. It will not be, he stressed.

Council members also supported the idea of moving ahead with the fiscal policy changes immediately, against the wishes of some citizens that the matter be better vetted before the citizenry before a vote. “We’re going to have to deal with our problems,” Council member Ron Peppe said. “This is the best way to get us to do all the things we need to do.”

The vote to adopt the changes was unanimous, 6-0, with Councilman Lawrence Webb absent.

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