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A 10-year audit found the City of Galveston’s Internal Service Fund balances grew approximately 391%, averaging about $1 million in annual surplus. Council broadly supported creating a formal reserve policy, but did not set reserve levels or take final action.
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Internal Service Funds charge city departments for shared services such as vehicles, maintenance, and insurance. Auditors found no mismanagement or improper reporting, but said reserves have grown beyond typical expectations and lack consistent guidelines. Council discussed setting minimum, target, and maximum reserve levels, with more analysis needed before adopting a policy.
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