Negative fund balances accumulate over time and are largely due to historical years of operating expenses that could not be sustained and/or ongoing expenditures that outpaced ongoing revenues. Certain funds with negative balances were put on a repayment schedule. The following list summarizes funds on a formal repayment plan and includes the estimated date of amortization.

Negative balances continue to draw resources from other funds, and ultimately become the responsibility of the General Purpose Fund (GPF). External auditors, rating agencies, and investors pay close attention to negative fund balances and the City’s commitment to repayments.

REPAYMENT PLANS IN THE FY 2021-23 ADOPTED POLICY BUDGET