HomeMy WebLinkAboutCC RESO 13,359RESOLUTION NO. 13,359
A RESOLUTION OF THE CITY COUNCIL FOR THE CITY
OF NATIONAL CITY AUTHORIZING APPROPRIATION AND
TRANSFER OF FUNDS FOR RESERVE FOR CONTINGENCIES
The City Council of the City of National City does
resolve as follows:
WHEREAS, it is necessary to appropriate and/or
transfer fund to meet necessary budget requirements.
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of National City that it'authorizes, appropriates
and directs the following transfer of funds be made:
FROM: Unbudgeted Reserve, Fund #01-General
To: Reserve for Contingencies, Fund 01-General
AMOUNT: $1,000,000.00
PURPOSE: A. FINANCING RESERVE - $400,000.00
To provide funds for temporary financing
of an emergency nature and for unforeseen
shortfalls in revenues.
B. GRANT PROJECTS ADVANCE RESERVE - $300,000.00
To provide funds for temporary loans to
Council authorized programs for which
grant monies are anticipated.
C. INSURANCE RESERVE - $200,000.00
To provide funds for a loss of property
not covered by insurance.
D. LEAVE CREDIT RESERVE - $100,000.00
To provide funds for accumulated leave
credits for personnel separating from
service.
PASSED AND ADOPTED this loth day June, 1980.
OR