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AGENDA ITEM 3F <br />STAFF ORIGINATOR: Daniel Tesch, Director of Administration <br />DATE 10 June, 1999 <br />TOPIC: Resolution 99-46 amending Resolution 99 -35 designating fund <br />balance for the General fund for the year ended 31 December <br />1998. <br />VOTE REQUIRED: Simple Majority <br />Resolution 91 -3 set standards for a reserve policy for the General Fund. The policy requires <br />that 1/2 of cash flow from property taxes and state aids for the ensuing year be required, 15% <br />general contingency reserve for the ensuing budget, prepaid items (i.e. insurance, seminars, <br />etc.) and unpaid employee benefits (vacation, sick leave severance). In 1998, the total <br />reserves surpassed these requirements by $300,874. It was the consensus of the city council <br />that dollars be allocated in a way as outlined in Resolution 99.35. At that time, $27,444 was <br />listed as unreserved and undesignated. The council has now determined that it would like to <br />designate the additional $27,444 towards park and trail improvements. <br />Approve resolution 99-46 amending resolution 99 -35 designating the additional $27,444 <br />of General fund balance for the year ended 31 December 1998 towards park and trail <br />improvements. <br />Send back to staff to reallocate. <br />Option 1 <br />