A retired finance attorney is warning Geneva leaders not to rely too heavily on surplus funds to keep taxes low. According to the Finger Lakes Times, Cy Smith urged City Council to raise the proposed 2% tax levy to 2.7%, saying the current plan could drain reserves below safe levels by 2026. Smith and his wife, also a finance expert, say the city’s projected fund balance would dip below recommended thresholds and risk its AA bond rating. They suggested a modest tax hike and borrowing from utility funds to spread costs tied to a sharp rise in health premiums. City officials say the city remains financially sound and the budget is still under discussion.