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ORDINANCE NO. 392 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MTNNFSOTA 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, except in the case of funds subject to budgetary accounting, where, prior to 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 Committed Contracts. An account used to segregate a portion oT_Pund BaTancc for ex- penditures upon vendor performance of committments related to unperformed contracts for goods or services. Subdivision 3. Desi nated for Com ensated Absences. An account used to segregate a portion o Fun Ba ante to provide for payment, upon compliance with terms and conditions spec- ified in Chapter 6 of the rtuniripal Code, of accumulated employee vacation and sick leave balances in excess o' amounts appropriate.) by the Council in the Annual Budgets. Subdivision 4. Designated for Contin encies. An account used to segregate a portion of Fun Balan_ to provide for unforseen expenditures or :or anticipated expenditures of an uncertain amount or unforseen shortfalls of anticipated revenues. Subdivision 5. Desofi na�ted.for Cash Flow. Ar account used to segregate a portion Fund Balance to Mow for a sufficient amount of cash to be available to meet operating expenses during a fiscal period without having to resort to temporarily borrowing between the receipt of major revenue items. 28.02 Designation of the Fund Balance of the General Fund Subdivison 1. There is hereby Jesignated for Cash Flow $669,145 of Fund Balance of the Gencral Fund. The Clerk -Admin- istrator and Finance Director -Treasurer shall maintain this