HomeMy WebLinkAbout1990-05-30 90-197 ORDINANCE'Dare W5-30-90 Iceman. 90-197
hem/Subject:rs r ming II, Article 2, Settian 2.1
City BanSar-Finarce Dept.
Responsible Department: Gty piya.
Commentary:
'lhe astacbed OdLarce Sidi once agean revice tie fo®ile for calcu at � the'
li er'al Duni cash eurplue. 1be foIDule eban9a axa4ilelea begroally hw
thins First, it meanness the City's 0rtexprtae Foods caVssb_ly fron tte
calculation. inclusion of Ue ffitterfaise farde les created cmfuelw in tie
Fest. Given the size arcl sadne of theme former it is appropxiare that they be
maideted on their can petits eras IS donc;fn Use City's armal geretal pur;sa e
financial repot[. Ssond, the revised foumils crerlita the General inpai for
Prvpe ty tam actually recafved during tba first tars mntta of. the fiscal yaot
and Sot acmunta receivable 1®e alluasre for tad debt. Thesis changes slnuid
sore a2vtataly reflst the actual ability of uMsignatal aaeral prod reeerves
to be appropriated for see in subaaloast years. atmoe chances Sill assist the
t;enieral Fwd in nakiM the $7500000 cash surplus estimate for the c®Uy fiscal
}Ear.
Deyam eat Head
Manager's Comments: -
Associated ndormatiork
Ordinance; Prior Ordinance
Budget Approval:
N/A See above Fiwuee O'reve
Legal Approval:
city sotidm,
Introduced For
Passage -
CgFint Reading Page _ of
❑Referral
90-19]
Assigned to Coancilo[ Stone, May 30, 1990
ryrypp CITY OF BANGOR
(TILE.) VIYrNiturtrity II aw;^]e_2 Section 2.1_a the @dlnancPa
of tts City of Bsgoe - Plvance Depathoant
Be ii otdahm 6y Bu atV CouaeB of Ctty o(Baayor, as (di .
13W, CMpt II, Article 2, Sectiw 2.1 Of the laws aM mduuurcee of tle
City of Ba be aided by deleting paragraph 2 iA its entirety attl eplxlig
It with the following:.
Cond>ve the cash hales to of the tXmial Mvd with my
equity fn pooled cash are lmeatoents and tames aM aaromrt
r vable; detluct the cutxant liabllitisms of the tYmtal
P=1 alluding any arsmhs fully budgetal fn tis mrceed ^
's af3ltOpttation. fn ag tt , dedtnt thE rosesa a<l O£
y
tle Gasxal iavd dgsignahed for a specific putpcae. A positise
insult will ba a cash suxptue and a nsga w w..it x311 be a
cash deficit.
90-197
ORDINANCE
�In City Council May 30.1990 - ( i Arendirq Chapter ilarticle 2,
lot reading iefererl to sec. 2.1 of the ordinances of the City of Hangar
finance ameittee f� Depatmvtt
Ci Clerk �0� � ntroi�snrei arv3 ftiei��
IN CITY COUNCIL
May 30,.1990 C ucitwN
Recef e¢ let reading
%ef 6d [0 bee
t Comittee.
CITY CL
IN CITY COUNCIL
June 11, 1990
Passed by the following yesd jq
votes. Councilors voting yes:
Blanchette. Cohen. Rugland. gam
Sosnaud, Stone and Sullivan.
CounbAor Sar.Habsent.
t CITY'CLBRR