Loading...
HomeMy WebLinkAbout1985-06-10 85-220 ORDINANCEe5-220 Beit ordain! by Be City CwaHl of the CiW 0Burma, ae fWavw: — THAT the provisions Of ChapterII, Article 2, Section 2.1 are amended as follows: ARTICLE 2 - FINANCE DEPARTMENT Sec. 2.1 Charter Responsibilities. The Finance Director shall perform such duties and'.a me responsibilities a are imposed on the Finance' Director by virtue of the provisions of the City Charter of the City of Bangor. In the performance of such duties, the Finance Director shall make .the following calculation from the annual audit report to determine the existence of a General Fund Cash Surplus or General Fund Cash Deficit. - .. Combine the cash balances of the General Fund and Enter- prise Funds; deduct the current liabilities of each of the above referenced funds (including Encumbrances and current portion of Enterprise Funds long-term debt), but excluding any amounts due betweenfunds rand/or Its- 1 not require a out)aV of Lash i Their entlxety in the c mina Year. In addition, deduct the reserves or the General Fund designated for a specific purpose, excluding non-cash related amounts. A positive result will be a ash surplus and a negative result will be a cash deficit• Statement of Fact: Additions are underlined Introduced by Councilor McCarthy, June 10, 1985 CITY OF BANGOR (TITLE) VVr411iS=e, Amending chapter 11,_Article 2, Sept On 2.1 of ,the c ty o€ BangorFhn„ance Deeartment_.. Beit ordain! by Be City CwaHl of the CiW 0Burma, ae fWavw: — THAT the provisions Of ChapterII, Article 2, Section 2.1 are amended as follows: ARTICLE 2 - FINANCE DEPARTMENT Sec. 2.1 Charter Responsibilities. The Finance Director shall perform such duties and'.a me responsibilities a are imposed on the Finance' Director by virtue of the provisions of the City Charter of the City of Bangor. In the performance of such duties, the Finance Director shall make .the following calculation from the annual audit report to determine the existence of a General Fund Cash Surplus or General Fund Cash Deficit. - .. Combine the cash balances of the General Fund and Enter- prise Funds; deduct the current liabilities of each of the above referenced funds (including Encumbrances and current portion of Enterprise Funds long-term debt), but excluding any amounts due betweenfunds rand/or Its- 1 not require a out)aV of Lash i Their entlxety in the c mina Year. In addition, deduct the reserves or the General Fund designated for a specific purpose, excluding non-cash related amounts. A positive result will be a ash surplus and a negative result will be a cash deficit• Statement of Fact: Additions are underlined 85-220 ORDINANCE AreMiag Chapter II, Article 2, IN CITY COUNCIL June 10, 1955 and any relevant CoxvuIttee Cc der next m ing Irt[ro8xp1 a riled W IN CITY COUNCIL Tine 24, 1985 Wi wn CITY