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<br />. <br /> <br />. <br /> <br />. <br /> <br />ATTACHMENT A <br />TO RESOLUTION NO. 4812 <br /> <br />CONTINGENCY FUND POLICY <br /> <br />I. Purpose of Policy <br /> <br />The purpose of this policy is to assure that General Fund resources are available <br />to meet qualified unbudgeted and unforeseen expenditures and allow the City <br />Council flexibility in governing the financial health of the City of Mounds View. <br /> <br />II. Policy Statement <br /> <br />A. Annually, the City Council shall establish a General Fund Contingency <br />Fund. <br /> <br />B. Expenditures from the Fund will be appropriated only under the guidelines <br />established under Policy Procedures. <br /> <br />III. <br /> <br />Policy Procedures <br /> <br />A. All expenditures from the Fund shall be approved only after a case <br />has been made that the expenditure meets at least one of the <br />following criteria: <br /> <br />1. The expenditure is a result of an unforeseen emergency <br />requiring unbudgeted funds to maintain accepted and agreed <br />upon levels of service delivery, or <br /> <br />2. The expenditure is not of an emergency nature, but is <br />required to meet Council goals and objectives for continued <br />quality service delivery or to meet an unforeseen service <br />need, or <br /> <br />3. It is proven that funds for the proposed Contingency Fund <br />expenditure cannot be secured from existing sources within <br />the current year's budget without negatively affecting other <br />goals and objectives. <br /> <br />4. The expenditure is not of a recurring nature. <br /> <br />ADOPTED BY CITY COUNCIL SEPTEMBER 11, 1995 <br />