HomeMy WebLinkAbout8007RESOLUTION NO. 8007
A RESOLUTION ESTABLISHING RESERVE INCREASES
WITH RESPECT TO FISCAL YEAR SPENDING FOR
FISCAL YEAR 1996
WHEREAS, Article X, Section 20(2)(e) of the Colorado Consti-
tution defines "fiscal year spending" to include "reserve increases,"
and,
WHEREAS, it would be in the best interest of the City to
establish by action of the City Council that any and all 1996 reserve
increases be considered a part of the City's 1996 "fiscal year spending"
and that all year end fund balances be considered as a "reserve." NOW,
THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
Any and all 1996 increases to net fund balances shall consti-
tute and be considered "reserve increases" and therefore a part of 1996
"fiscal year spending" within the meaning of Article X, Section 20(2)(e)
of the Colorado Consitution.
SECTION 2.
Any and all 1996 year end fund balances shall constitute and be
considered "reserves" and all subsequent expenditures and transfers from
such "reserves" shall be excluded from "fiscal year spending" within the
meaning of Article X, Section 20(2)(e) of the Colorado Constitution.
INTRODUCED: December 23
John Verna
,1996
Councilperson
ATTEST:
d
City Clerk
APPROVED:
P esident of City Council