HomeMy WebLinkAbout2004.03.15 RESO 2004-0013RESOLUTION 2004 —13
RESOLUTION AMENDING FISCAL POLICY
BE IT RESOLVED by the City Council of the City of Hugo, Washington
County, Minnesota, as follows:
The city's fiscal policy is amended to read "general fund reserves in an
amount equal to 50% of the general fund operating budget shall be
designated in the annual audit report as reserved for working capital.
BE IT FURTHER RESOLVED that the city's fiscal policy shall include
the following provision: "a sinking fund for compensated absences shall be
created and fully funded on an annual basis."
Upon roll call, the following Members voting AYE: Granger, Puleo, Haas,
Petryk, and Miron.
Upon roll call, the following Members voting NAY: None.
Whereupon said resolution was declared passed and adopted this 15th day of
March, 2004.
4ftanMiron, !Mayor
ATTEST:
;2�reager,
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Mary City Cl