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RESOLUTION 2004 —13 <br />RESOLUTION AMENDING FISCAL POLICY <br />BE IT RESOLVED by the City Council of the City of Hugo, Washington <br />County, Minnesota, as follows: <br />The city's fiscal policy is amended to read "general fund reserves in an <br />amount equal to 50% of the general fund operating budget shall be <br />designated in the annual audit report as reserved for working capital. <br />BE IT FURTHER RESOLVED that the city's fiscal policy shall include <br />the following provision: "a sinking fund for compensated absences shall be <br />created and fully funded on an annual basis." <br />Upon roll call, the following Members voting AYE: Granger, Puleo, Haas, <br />Petryk, and Miron. <br />Upon roll call, the following Members voting NAY: None. <br />Whereupon said resolution was declared passed and adopted this 15th day of <br />March, 2004. <br />4ftanMiron, !Mayor <br />ATTEST: <br />;2�reager, <br />---------------- <br />Mary City Cl <br />