HomeMy WebLinkAboutCCRes_90-49No . R-90-49
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CITY OF FALCON HEIGHTS
C O U N C I L R E S O L U T I O N
Date Dec. 28, 1990
RESOLUTION DESIGNATING 1990
GENERAL FUND BALANCE
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A. 1991 Working Capital $381,028.47
B. Reserve for Fringe Benefits 41,489.48
C. Reserve for Severance Pay 19,153.20
TOTAL: $441,671.15
WHEREAS, City reserve policies dictate that year-end fund balance
amount in the General fund over and above 32~ of the following years
operating budget be designated for working capital and additional amounts
for projected future liabilities; and
WHEREAS, it is important to properly disclose future obligations
of the General Fund; and
WHEREAS, it is necessary to disclose these obligations in the
Annual Report;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Falcon Heights that the following designations be established in the
City's 1990 General Fund Balance.
YEAS
,.-BALDWIN
~-CIERNIA
~EHRZ
,.-6JALLIN
COBS
Nays
,...`S in Favor
Against
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Approved by ~~J~
Mayor
,~
;'~ ,,,
Attested by ` ~~
City Clerk
Adopted by Council Dec. 28, 1990