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1 <br /> ATTACHMENT A <br /> TO RESOLUTION NO. 4812 <br /> CONTINGENCY FUND POLICY <br /> Purpose of Policy <br /> The purpose of this policy is to assure that General Fund resources are available <br /> to meet gisalified unbudgeted and_unforpseen_expenditures-and-allow the_City <br /> Council flexibility in governing the financial health of the City of Mounds View. <br /> II. Policy Statement <br /> A. Annually, the City Council shall establish a General Fund Contingency <br /> Fund. <br /> B. Expenditures from the Fund will be appropriated only under the guidelines <br /> established under Policy Procedures. <br /> III. Policy Procedures <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 /> 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 /> 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 /> 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 /> 4. The expenditure is not of a recurring nature. <br /> ADOPTED BY CITY COUNCIL SEPTEMBER 11, 1995 <br />