HomeMy WebLinkAbout09714RESOLUTION NO. 9714
A RESOLUTION ESTABLISHING A GENERAL FUND RESERVE POLICY OF 10% OF THE
ANNUAL GENERAL FUND EXPENDITURES AND TRANSFERS OUT
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
Effective with the adoption of the FY 2004 budget, it is the policy of the City Council to
accumulate and maintain as a general fund reserve an amount equal to 10% of the annual general
fund expenditures and transfers out and to have such reserve in place by December 31, 2004.
SECTION 2.
The general fund reserve shall be designated and identified in the City of Pueblo's annual
budget.
SECTION 3.
The general fund reserve shall be in addition to the emergency reserves required under
TABOR, the general fund operating reserve and other reserves required by Generally Accepted
Accounting Principles.
INTRODUCED November 11, 2002
BY Robert Schilling
Councilperson
APPROVED:
c��
resident of City Council
ATTEST:
AL
City C