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HomeMy WebLinkAbout1991-07-08 91-281 RESOLVE91-281 Mripad to Couacdor Cohen, July 8, 1991 CITY OF BANGOR ��satvv QITLE.) Direct n9 the FLa(ILB ni:ecr m re is..rne Lean stapt„e/ Deficit Provisioro of the city Matter ab Cada of (ptliturePB and to taac®oatl A} riate c1angee and ii�viadona for cou cul rnu.<.�. On By W City Coaaii oft City of aa. . ORDERED, TUT , Me City Chats requires an antral estivate of the genial fund cash surplus or cash deficit and for the of this estimate as an e3�tt of the Subsequent years' ga civ tad budget: id�BEAR, The curxaut def=timn of Up cash surplus/deficit does not cot e with erg' gaerally reeo9eu acorn ring eaysre of the gaaoal f ,s ovaall financial status: and tumaa5, Tla Uty's Past laactice of carrying forwaid Hie estiated cash surploe into the subseguant. year's Operating budget as a rmenue is, yn effect, ao appropriation of the city's m lesiwu fwd balance; and [diDtEel9, 1Sudent financial va agmen raluires'that t city develop and maantain an adequate level of uxksfgnatad ga atal fmd palace far.. cash Elan and pry icgaaes; and tamu+.U", -'hie current cash surpius/deEdcit p isdont and praedtome do not address the city's••: • for an adaq aw gavel of gem fuN u decimated balance: 19C�i: 'her M aT = = QAPCII. O = CITY OF SANMR, TIAT the Fdtanx Dizector is Lasby directed to present appropriate language for a Chary s ant to be cesidaal by the City Caucll for possible refewnL® vote at City ela2imn. This laguage shall r refaomncas to a cash surplus or deficit as a ddgetaiy iten frac Hie prune. anc for fut namicipal hdgats. the Fhwce � stall also suggest lag a to tte Council for establdsh®nt of an apps yriate levet of uMesigtatad gaatsl fad mlaree and the ctraastanrea un$r which such uMeaignated genal fund balance may be usai to sup ort the annual operatrng h*ot. IR CITY COUNCIL July 8, 1991 Suspension of the Rules Passed. Regi_ol_Y Passed. CITY R2 91-381 Directing the Flmnce Director to Review thk Cash Surplus/Deficit Provisions of the City Charorand Code of Ordinances and [o Recommend Approp[ to Changes and Revislove fox Council Considers ion