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RESOLUTION NO. 7851 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> ADOPTING A FUND BALANCE POLICY <br /> WHEREAS, the City desire to formalize a Fund Balance Policy; and <br /> WHEREAS, the Minnesota State Auditor has provided some best practices with <br /> regard to establishing a fund balance policy; and <br /> WHEREAS, the policy establishes a target for a minimum General Fund balance <br /> between 35 percent and 50 percent of the subsequent years budgeted operating <br /> revenues and transfer or no less than five months of operating expenditures and <br /> transfers; and <br /> WHEREAS, the policy establishes the order of resource use; to use restricted <br /> resources before unrestricted to use committed resources before assigned resources <br /> and assigned before unassigned resources. <br /> NOW, THEREFORE BE IT RESOLVED by the City Council of the City of <br /> Mounds View that the attached Fund Balance Policy is hereby adopted. <br /> Adopted this 14th day of November, 2011. <br /> 0 <br /> e Flaherty, Mayor <br /> ATTEST: <br /> J 't-t,d <br /> James Ericson, City Administrator <br /> (seal) <br />