HomeMy WebLinkAbout09985RESOLUTION NO. 9985
A RESOLUTION ESTABLISHING RESERVE INCREASES WITH RESPECT TO FISCAL YEAR
SPENDING FOR FISCAL YEAR 2003
WHEREAS, Article X, Section 20(2)(e) of the Colorado Constitution 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 2003 Reserve Increases be considered a part of the City's 2003 "Fiscal
Year Spending" and that all year-end fund balances be considered as a "Reserve." NOW,
THERFORE;
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that:
SECTION 1.
Any and all increases to net fund balances shall constitute and be considered "Reserve
Increases," and therefore a part of 2003 "Fiscal Year Spending" within the meaning of Article X,
Section 20(2)(e) of the Colorado Constitution.
SECTION 2.
Any and all 2003 year-end 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 November 24, 2003
BY Al Gurule/Councilperson
APPROVED: Bill Sova/President of City Council
ATTEST: Gina Dutcher/City Clerk