HomeMy WebLinkAboutResolution 47-2002 - Failed, RESOLUTION NO. 47-02
RESOLUTION TO AMEND 2003 BUDGET
WHEREAS,primarily due to lack of projected growth in Sales Tax collection,total projected
revenues and operating incomes available for budgeting for 2003 are insufficient to meet
projected City needs as outlined by the City Manager for 2003, and
WHEREAS,the City Manager identified and listed several important"priority" needs which
have not yet been funded, and
WHEREAS,the City Council's policies have established certain reserve funds which aggregate
more than $2,000,000, and
WHEREAS,Ends Policy #1, Financial Stability, Guideline C, Section I, Sub-section B, creates a
reserve that".....may be used at the Council's discretion to address............unanticipated
economic downturns.......,"a condition which now exists, and
WHEREAS, creating this "rainy day" fund surely contemplates that it will be used, if needed,
during periods of temporary revenue short-fall to enable the City to continue its on-going
operations, and
WHEREAS, good business practice requires properly repairing or replacing worn out equipment
on a timely basis creating a safe working environment for the City's employees and protecting
members of the public, simultaneously increasing employee productivity and efficiency at a time
when increased productivity is most needed, and funding on-going community services and
programs strengthens partnership relationships with important community organizations to
achieve the city's goals.
NOW THEREFORE BE IT RESOLVED,that$167,000 be transferred from the sub-section B
reserve to the 2003 City Budget to be applied by the City Manager to the list of un-funded
"priority" needs identified in his budget presentation, and
BE IT FURTHER RESOLVED,that the reserve balance in sub-section B be fully restored as
soon as future budgets will allow.
FAILED this 23rd day of September 2002.
CITY OF BROOKINGS
Mayor Virgil H. Herriott
ATTEST:
Shari Thornes, City Clerk