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SEP-28-2007 13:21 CITY OF SHOREVIEWJ 6514904699 P.06/06 <br /> Page 2 <br /> Resolution 98-25 <br /> 4111 Fund Balance Designations <br /> 2. Unanticipated Expenditures—General Fund balances will be designated for future <br /> expenditures or revenue shortfalls in an amount up to five percent (5%) of actual <br /> General. Fund expenditures (not including transfers to other funds). <br /> 3. Priority Order—The General Fund cash flow designation shall be of a higher <br /> priority than the unanticipated expenditure designation. <br /> 4. Authorization of Annual Transfer-The amount of the General Fund balance <br /> greater than the sum of all General Fund designations will be transferred to a fund or <br /> funds determined by the City Council. Such transfer is pursuant to Council approval. <br /> 5. City Programs and Projects —Fund balances held in Special Revenue Funds or <br /> Capital Project Funds for future program and/or project costs and not yet legally <br /> obligated will be designated. <br /> 6. Debt Funds—Fund balances held in Debt Service Funds for future debt payments <br /> will be designated. <br /> 7. Guidelines—Fund balances will be designated according to the above guidelines up <br /> to the amount available after other designations. This policy is not intended to <br /> require the reporting of deficit undesignated fund balances. <br /> NOW, THEREFORE BE IT RESOLVED that the provisions of resolution 90-64 <br /> are rescinded. <br /> The motion for the adoption of the foregoing resolution was duly seconded by <br /> Councilmember Huffman, and upon vote taken thereon, the following voted in favor <br /> thereof: all present; <br /> and the following voted against the same: none. <br /> WHEREUPON, said resolution was declared duly passed and adopted this 7Ch day <br /> of April, 1998_ <br /> TOTAL P.06 <br />