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RESOLUTION NO. 1756 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />A RESOLUTION ESTABLISHING A GENERAL FUND CASH FLOW <br />RESERVE <br />WHEREAS, the City's auditors have, in their management <br />report dated December 31, 1983, recommended that the City <br />maintain an adequate level of fund balance in the General Fund in <br />order to provide for the financial strength and integrity of the <br />City; and <br />WHEREAS, the Council recognizes that an adequate level of <br />fund balance is necessary to provide for cash flow requirements; <br />NOW, THEREFORE, BE IT RESOLVED as a matter of policy, the <br />cash flow reserve of the General Fund shall, as far as <br />practicable, be maintained at an amount which equals one-half of <br />the General Fund's property tax levy and anticipated state aids <br />in a given year; <br />i <br />BE IT FURTHER RESOLVED by the Council that $387,000 of the <br />fund balance of the General Fund is designated as a reserve for <br />cash flow; <br />BE IT FURTHER RESOLVED, that the Council shall annually <br />review, the amount of the cash flow reserve as part of the budget <br />preparation process. <br />ATTEST: <br />Adopted this 9th day of July, 1984. <br />Mayor <br />(SEAL) <br />Clerk -Administrator <br />