(A) The City shall utilize the special liability expense fund as a risk management reserve fund in accordance with K.S.A. 12-2615 for the purpose of providing moneys to reimburse the City, in whole or in part, from any uninsured loss. Moneys in such fund, not immediately needed, should be invested and the interest thereon credited to the fund.

(B) The reserve funds will be annually examined as to their adequacy and a report of such adequacy furnished to the City Council as part of the City’s annual audit. (Ord. 22-19 § 7, 2022; Ord. 97-135 § 5, 1997; Ord. 89-98 § 1, 1989.)