HomeMy WebLinkAboutResolution 2005-23 - Designation Of 2004 Fund BalanceCity of Corcoran
County of Hennepin
State of Minnesota
RESOLUTION NO. 2005-23
MOTION BY MEMBER: Thomas
SECONDED BY MEMBER: Lymangood
DESIGNATION OF 2004 FUND BALANCE
WHEREAS, the City of Corcoran strives to be fiscally responsible and achieve and maintain an
acceptable Reserve Fund Balance; and
WHEREAS, the preliminary audit for the year ending December 31, 2004 projects that the City
of Corcoran's Reserve Fund Balance can be increased by $175,000.
THEREFORE BE IT RESOLVED, by the Council of the City of Corcoran that of those funds,
$60,000 shall be allocated to the Modified 2005 Budget for the increase in police protection, and
the remaining funds shall be allocated to the City's Reserve Fund, in efforts to continue to
maintain an acceptable Reserve Fund Balance as identified in the City's Reserve Fund Policy.
VOTING AYE
•
Cossette, Tom
•
Grabowski, Chuck
•
Jacobs, Paul
•
Lymangood, Chuck
•
Thomas, Ron
ATTEST:
VOTING NAY
Cossette, Tom _
Grabowski, Chuck_
Jacobs, Paul
Lymangood, Chuck _
Thomas, Ron _
Whereupon, said Resolution is hereby declared
passed on this 24th day of March, 2005.
Bea Lindberg, City Cl e k
Tom Cossette, Mayor
On, Seal