HomeMy WebLinkAbout7281RESOLUTION NO. 7281
A RESOLUTION ESTABLISHING RESERVE INCREASES
WITH RESPECT TO FISCAL YEAR SPENDING FOR
FISCAL YEAR 1993
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 1993
reserve increases be considered apart of the City's 1993 "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:
qPC TTC)N 1.
Any and all 1993 increases to net fund balances shall consti-
tute and be considered "reserve increases" and therefore a part of
1993 "fiscal year spending" within the meaning of Article X,
Section 20(2)(e) of the Colorado Constitution.
CPrTT(1N 7 _
Any and all 1993 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 27, 1993
ATTEST:
s
City' Clerk
By JOHN CALIFANO
Councilperson
APPROVED:
Pre s' ent of the City Council