HomeMy WebLinkAbout1996 046 CC RESO1996 046 CC RESO (Ìì ¶ . RESOLUTION NO.96- 46
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BALDWIN PARK ADOPTING A MINIMUM GENERAL
FUND RESERVE OF TEN PERCENT OF THE GENERAL
FUND OPERATING EXPENSES
WHEREAS, the City Council intends to reserve certain unrestricted General Fund balances at the
adoption of the annual operating budget; and
WHEREAS, a level equal to 10% of unrestricted General Fund balances of the current years general
fund revenues shall be held as a minimum in reserve.
NOW, THEREFORE, BE IT RESOLVED that it shall be the policy of the City that reserves of an
amount not less than ten percent 10%) of the general fund operating expenses shall be placed in reserves
at the adoption of the annual operating budget. The Director of Administrative Services of the City of Baldwin
Park, or their designee, is hereby authorized and empowered to execute all necessary procedures,
applications and amendments hereto for the purposes of securing reserves and to implement and carry out
the purposes specified in this Resolution.
APPROVED AND ADOPTED this 19th day of June, 1996.
ATTEST
LINDA L. GAIR, CITY CLERK
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES ss
CITY OF BALDWIN PARK
I, LINDA L GAIR City Clerk of the City of Baldwin Park do hereby certify that the foregoing resolution
was duly and regularly approved and adopted by the City Council of the City of Baldwin Park at its regular
meeting of the City Council on June 19,1996 by the following vote:
AYES: MARTINEZ MUSE, LOWES,LOZANO,MAYOR VARGAS
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
LINDA L. GAIR, CITY CLERK
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