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The City Council approved fund-balance and debt policies 4-0 ahead of a planned bond issuance. The policies set a minimum reserve equal to 25% of operating expenditures for the General Fund and Water & Sewer Fund, cap annual debt service at 10% of general fund revenues, and establish an absolute 15% limit.
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The new policies establish how much money Zephyrhills must keep in reserve and how much debt it can take on. Council also approved the consent agenda, including airport apron grants and an amendment to a related airport agreement. A request to rezone about 23 acres near the hospital was not decided; the applicant will work with staff to narrow the permitted uses before a public hearing.
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