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72 <br />73 <br />74 <br />75 <br />76 <br />77 <br />78 <br />79 <br />80 <br />81 <br />82 <br />83 <br />84 <br />85 <br />86 <br />87 <br />88 <br />89 <br />90 <br />91 <br />92 <br />93 <br />94 <br />95 <br />96 <br />97 <br />98 <br />99 <br />100 <br />101 <br />102 <br />103 <br />104 <br />105 <br />106 <br />107 <br />108 <br />109 <br />110 <br />111 <br />112 <br />113 <br />114 <br />115 <br />116 <br />117 <br />118 <br />119 <br />Attachment A <br />EXTRACT OF MINUTES OF MEETING OF THE <br />CITY COUNCIL OF THE CITY OF ROSEVILLE <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, <br />County of Ramsey, Minnesota was duly held on the 23rd day of January 2012 at 6:00 p.m. <br />The following members were present: <br />and the following were absent: <br />Member introduced the following resolution and moved its adoption: <br />RESOLUTION <br />RESOLUTION ADOPTING FINANCIAL AND BUDGET POLICIES <br />FOR THE CITY OF ROSEVILLE <br />WHEREAS, the City Council of the City of Roseville, Minnesota desires to establish budget and financial <br />policies that provide for the sustainability of City programs, services and infrastructure; and <br />WHEREAS, the City Council of the City of Roseville, Minnesota desires to maintain the City's strong <br />financial condition; and <br />WHEREAS, the City Council of the City of Roseville, Minnesota desires to provide appropriate fiscal and <br />budgeting controls. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, Minnesota, that the <br />following budget and financial policies be adopted and remain in effect until such time that a subsequent <br />policy action is taken. <br />Investment Policy <br />Purpose <br />The purpose of the Investment Policy is to ensure the most efficient use of the City's idle funds, and to <br />ensure the best return on these funds while making only those investments allowed by law. <br />Policy <br />❑ The City will make a cash flow analysis of all funds on a regular basis. Disbursement, collection, <br />and deposit of all funds will be scheduled to ensure maximum cash availability. <br />❑ When permitted by law, the City will pool cash from several different funds for investment <br />purposes. <br />❑ The City will invest 99 percent of its idle cash on a continual basis. <br />❑ The City will obtain the best possible return on all cash investments. Such investments will only be <br />Page 3 of 7 <br />