Agenda Packets - 1985/11/25 - Laserfiche WebLink

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.. 0 ORDINANCE NO. 392 CITY OF MOUNDS VIEW COUNTY OF RA,MSEY STATE OF MINNESOTA AN ORDINANCE ESTABLISHING CHAPTER 28 MUNICIPAL CODE ENTITLED, "DESIGNATIONS OF FUND BALANCE OF THE GENERAL FUND. The Council of the City of Mounds View does hereby ordain: 28.01 Definitions Subdivision 1. Fund Balance. The excess of the assets of a fund over its liabilities and reserves, r.xcait in th case of funds subject to budgetary accounting, where, prior t.. the end of a fiscal period it represents the excess of the fund's assets and estimated revenues for the period over its liabilities, reserves, and appropriations for the period. Subdivision 2. Designated for_C_ommitted Contracts. An account used tc segreaate a portion oZ Fund Balance r ex- penditures upon vendor performance of committments related to unperformed contracts for goods or services. Subdivision 3. Designated for Com ensated Absences. An account used to segregate a porno o�Fun Balance to provide for payment, upon compliance with terms and conditienc ;pec- ifivA in Chapter 6 cf the Flw,icipai code, of accumulated employee vacation and sick leave balances in excess of amounts appropriated by the Council in the Annual Budgets. Subdivision 4. Designated for Contingencies. An account used to segregate a portion of Fund Balance to provide for unforseen expenditures or for diticipat,?d expenditures of an rote tain amount or unforseen shortfalls of anticipated revenues. Subdivision 5. Des_iinated for Cash Flow. An account used to segregate a portionn0 Fund Balance to aTlow for a sufficient amount of cash to be available to meet operating expenses during a fiscal period without having to resort to temporarily borrow.ng between the receipt of major revenue items. 28.02 Designation of the Fund Palance of the General Fund Subdivison 1. There is hereby designated for Cash Flow $669,145 of Fund Balance of the General Fund. The Clerk -Admin- istrator and Finance Director T...-_❑r.r shall maintain this t