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HomeMy WebLinkAbout1991-08-26 91-328 ORDERDate N_26a91 coon _ - - hem No. 91-328 Imentsublect: 0101R, s� tlse AaeeaLes[ of the a Bxpr City Responsible Department: ylbresisce D{rv..lamtt Commentary: Color the Paget asreral. years, there las heal fre9uent discussion of the Charter Provdaion whirls regarrse the comitleation of a cash s explus; or cash tlBficit as a part of thiel an ael budget process. owing ttie last budget prcoasa, this itae es dtemnssel again and tore Ocasil inxlicated a dealre to mieitler a change to Ue Cfty's Charter to eliminate rafereaxs to the cash conspires; or deficit ad to insmt lar laazle which would rebate see directly to current stmdaxd aecmmtdrg prectices. As you are mare• t:e cash surplus or cash deficit Mt tart on cvzxmtly requires the City to operate on a finis other than current experclitures equal current A review of the history of the calash an¢plus revaals that it has varlai drssetically fine }ass to year and over telae. 1n aiditbn, tte remsireal Uat mry real surplae bs L utlsci in the subsequent year's budget say have, the effect of Axing the city's undesignated fund tedanre below toe level felt prudent by the Coupon and by firarin a and bond adviaoxa. THse attached Charter Ngadrent mould delafe to the cash surplus or cash rgf5cit and rePlaca Uwm w th language targeting Use rkvelopgent of vlesigramd fund halmce for the Consul Pad of beteelan 58 mai 10% of Ue prior cal yeaffi' Gaerel Pad enpeditnires lees dint service. (wnt'd on rest pays) mto Car Hasa Manager's Commmts; �R 6ilY Mooagn Associated Information: Attached Order Budget Approval: eeO;mno, Legal Approval: IlBalnf vv ltc r^vt"'j• f{v. n A Gaeneil will aenrd 4 •/Otf.< an skin e+rzeft� 1 Uu2' oaf /%r a,aafowi .f /aul o tot rvjV1Ar /�Ss carsacmrr. m#'nlri l ele /ea MNeF.�Vn r 8 h mos oo' 0'de mra/• be Meas/ l V5 Introduced For Passage ❑ First Reading Page _ of — � Referral _ dia concept of na ignat ci fiuM belarirn has baaa fairly sten r in too world of �lpsl finmm» a is often ured as a boob v k by which arelyets establish Uo finaroisl stales of a aadcipal By changing t fans of the CharYsr f a cash surplus or cash deficit to the oarapt of an atleaigreted fuml balenre, the City will be c®by into lire with stamc N £Landon Practice. dqa attached tIl�r which ptwides for a CiavYer .1m t also calls for natice of a public tarring to be held an this proposed CFarter Pmurhnai2. ' io g is sntcduled for septamber 11, 1991 as a part of too regularly scleoID Wnacil maetbg. This will allay the City Coaoii to take testi w from any interested parties on this prep s change. If the Gamin does wish to Porsue toils change, it will reed to t payed to act at its, sept dor 11N meeting in orcer in ieaura that tba hrl lots am Printed in a tvis1Y fasM1ion. 91-328 A eipedto Couvcdw Cohen, August 26, 1991 CITY OF BANGOR P,nolal. . for the ]YretrLient of the Be:uJu . city BY the City Cv of MY alBaapve: ORDERED, THAT the Rangar City ca:nc 1, by adoption of this (h g does twu y detennvie antl drelaze that the to the Ba City Cliertae should he cmeide i; area m IT 'HNT the City Clerk is hereby authorized aM dixs:tal, guvuant w 30h R.R.S.A. 59 2204 et seq., w moxvlad, w provide for notice Of a hearing to be held on Sept 11, 1991, l the City Coi u Climobeta, for putpwss of CXX]S ering tic ptopoaal msaruhoa2 w the SHntyr City (Terser, the tet of said iuopo aamm®R and a brief evplanaLton tMleof bevg w follare; BE w FIYiDffiR , 'HNT Article W, Set+:.... 4, S:wxtion (c) of the City iia Yer of the City of Bangor is ani Co ra':d w follows: (c) she ame:al budget shall canavu (1) an �to of all revelote receipts a:RicipaTed fz® soun other than the tau levy foc the enua of the sum te4ri to '; aM h64 (5) abal vca Rife: Oeleta,..,e 8l -eut: additions �lir i. IN CITY COUNCIL August 26, 1991 Received let reading Referred for Pabllc HeaxLng. cite/Clark IN CITY COUNCIL September 11, 1991 Passed , I CLBRK 91-328 ORDER Title, Providingfou the Amendment of th Bangou .....n ......a .. City Cb rtes - Budget ...................................... .. Assigned to ...................................... Councilman CITY OF BANAMON PUBLIC HEARING SEPTEMBER III HE CITY COUNCIL CHAMBERS THIRD FLOOR, CITY HALL 7." PIM. MISS