HomeMy WebLinkAboutResolution 085-2007 RESOLUTION NO. 85-07
CREATING CASH FLOW RESERVES WITHIN THE GOVERNMENTAL FUNDS
WHEREAS, the City of Brookings Governance Policies & Ends Policies 1, Financial
Stability, Guideline C, states the Council allows for a reasonable reserve funding a 3-month
operational level,
AND WHEREAS, the reserve is to be used at the Council's discretion to address
temporary cash flow shortages, emergencies, unanticipated economic downturns, and one-time
opportunities,
NOW, THEREFORE, BE IT RESOLVED that up to 10% of the Governmental Fund
Balances be reserved for the above cash flow emergencies.
Passed and approved this 4th day of December, 2007.
Scott unsterman, Mayor
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'•Tl1.ki r; City Clerk