With Ample Reserves, Isn’t It Time for the City of Irvine to Do More to Help Its Residents & Local Businesses?
Good fiscal management has resulted in the City of Irvine building up operational reserves to $100 million — roughly $50 million in an Asset Management Reserve Fund and another $50 million in a Contingency “Rainy Day” Reserve Fund.
Although accumulating these reserves is laudatory, the City’s reluctance to deploy the reserves to alleviate hardships caused by a global pandemic is troubling.
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