Atlanta: $94 Million In Reserves ATLANTA, GA (WABE) - Last summer, Atlanta Mayor Kasim Reed said he would begin to focus on day to day issues that matter to residents. The latest revenue numbers may indicate he'll soon have the money for such ventures.

Reed says the city has $94.4 million in reserves. It's a far cry from the $7.4 million the Mayor says the city had in reserves when he took office two years ago.

"We're getting better at managing for results and outcomes as supposed to budgeting for survival," said Chief Financial Officer Jim Beard.

Before Reed started as Mayor, city leaders pushed through a measure requiring the city to focus on savings as a part of its yearly budgeting process. That focus was coupled with budget cuts over the years.

"We're in the $500 million range and we've had budgets in the upwards of $600 million previously," said City Council Finance Chair Felicia Moore.

In addition, Reed pushed through sweeping retirement reforms, which resulted in the city spending less on its pension obligations. Atlanta has also curbed hiring.

The city's goal is to have at least $100 million in reserves. Beard says that kind of savings would make Atlanta attractive to credit agencies. Favorable ratings will help the city obtain bonds. That financing could be used for infrastructure improvements.

"Things like roads, bridges, vehicles for our police fleet," said Beard. "We'll be in a better position to take on those things once we hit this reserve target." © Copyright 2012, WABE