HomeMy WebLinkAboutCC RESO 2002-35RESOLUTION NO. 2002 - 35
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF NATIONAL CITY
AMENDING CITY COUNCIL POLICY NO. 201 PERTAINING
TO THE MAINTENANCE OF RESERVE FUNDS POLICY
BE IT RESOLVED by the City Council of the City of National City that City
Council Policy No. 201, entitled "Maintenance of Reserve Funds", is amended as
recommended by the City Manager and Finance Director, to add the following language:
"CONTINGENCY RESERVE: General Fund - The City
Manager is charged with the responsibility of maintaining an accumulating
General Fund Contingency Reserve at a minimum target range equal to between
25 % and 50% of a single year's General Fund operating expenditures. The
actual amount of the General Fund Contingency Reserve shall be determined
each year by the City Manager as part of the budgeting process and shall be
annually reported to the City Council as part of the CARF. Expenditures from
the General Fund Contingency Reserve require City Council approval. "
PASSED and ADOPTED this 12th day of March, 2002.
}/1-444-4-1-c /.E- LLin.
George H. Waters, Mayor
ATTEST:
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Mich1 R. Dalla
City Clerk
APPROVED AS TO FORM:
George H. Eiser, III
City Attorney