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RESOLUTION NO. 1758 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />A RESOLUTION ESTABLISHING A GENERAL FUND RESERVE FOR <br />CONTINGENCY <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 unforseen circumstances <br />and emergencies; , <br />NOW, THEREFORE, BE IT RESOLVED by the Council that $52,000 <br />of the fund balance of the General Fund is designated as'a <br />reserve for contingencies; <br />BE IT FURTHER RESOLVED, that the Council shall annually <br />review the adequacy of the amount of the reserve for <br />contingencies as part of the budget preparation process. <br />ATTEST: <br />(SEAL) <br />Adopted this 9th day of July, 1984. <br />Mayor <br />Clerk -Administrator <br />