HomeMy WebLinkAboutResolution 45-2002 RESOLUTION NO. 45-02
RESOLUTION AUTHORIZING A TRANSFER OF FUNDS
WHEREAS,the City Council has determined the need to transfer General Fund dollars
to the Economic Development Fund, and
NOW THEREFORE BE IT RESOLVED,that up to $110,000 be transfened to the
Economic Development Fund. This transfer is made according to "Ends Policy#1, Financial
Stability, Guideline C, Council Options for Further Reserves"which allows the Council to utilize
excess reserves for transfer to another fund that is not at its target amount. This transfer is based
on the current year-end estimate. If the year-end estimated surplus is not met, the City Manager
shall make adjustments to the 2003 budget or make recommendation to the City Council for
amendment.
BE IT AUTHORIZED by the City Council that the City Manager is hereby authorized
to make the transfer.
PASSED and ADOPTED this 9`" day of September 2002.
CITY OF BROOKINGS
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Mayor i gi H. Herriott
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r . rnes, City Clerk
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