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No . R-90-49 <br />• <br />CITY OF FALCON HEIGHTS <br />C O U N C I L R E S O L U T I O N <br />Date Dec. 28, 1990 <br />RESOLUTION DESIGNATING 1990 <br />GENERAL FUND BALANCE <br />• <br />A. 1991 Working Capital $381,028.47 <br />B. Reserve for Fringe Benefits 41,489.48 <br />C. Reserve for Severance Pay 19,153.20 <br />TOTAL: $441,671.15 <br />WHEREAS, City reserve policies dictate that year-end fund balance <br />amount in the General fund over and above 32~ of the following years <br />operating budget be designated for working capital and additional amounts <br />for projected future liabilities; and <br />WHEREAS, it is important to properly disclose future obligations <br />of the General Fund; and <br />WHEREAS, it is necessary to disclose these obligations in the <br />Annual Report; <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City <br />of Falcon Heights that the following designations be established in the <br />City's 1990 General Fund Balance. <br />YEAS <br />,.-BALDWIN <br />~-CIERNIA <br />~EHRZ <br />,.-6JALLIN <br />COBS <br />Nays <br />,...`S in Favor <br />Against <br />---------------------------------------------------- <br />Approved by ~~J~ <br />Mayor <br />,~ <br />;'~ ,,, <br />Attested by ` ~~ <br />City Clerk <br />Adopted by Council Dec. 28, 1990 <br />