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HomeMy WebLinkAbout2012-08-13 12-267 ORDERCOUNCIL ACTION Item No. 12-267 Date: August 13, 2012 Item/Subject: ORDER, Referring an Order Entitled "Proposing an Amendment to the Bangor City Charter, Article VIII, Section 16, Business and Financial Provisions, Undesignated Fund Balance on the November 6, 2012 Municipal Ballot" for a Public Hearing. Responsible Department: Legal Commentary: This Order refers an Order entitled "Proposing an Amendment to the Bangor City Charter, Article VII, Section 16, Business and Financial Provisions, Undesignated Fund Balance" on the November 6, 2012 Municipal Ballot to the August 27, 2012 City Council meeting for a public hearing. Department Head Manager's Comments: its 4 -errs wy awieuje& 1p� C),nC A M a. UDW �< tl > — w,& ca m tp( City Manager CA)p pras Associated Information: Budget Approval: Legal Approval: Introduced for Passage First Reading Referral Page _ of _ Finance Director ity Solicitor 12-267 AUGUST 13, 2012 r✓ Assigned to Councilor Sprague O y�0 CITY OF BANGOR 4 rMl (TITLE.) ORDER, Referring an Order Entitled "Proposing an Amendment to the Bangor City Charter, Article VIII, Section 16, Business and Financial Provisions, Undesignated Fund Balance on the November 6, 2012 Municipal Ballot" for a Public Hearing. WHEREAS, the Bangor City Charter currently provides that the City Council "shall target an undesignated fund balance of no more than 10% of the operating budget, excluding debt for the General Fund. The target balance shall be established at 5% of the last year's expenditure less debt service"; and WHEREAS, it is in the best interest of the City of Bangor to increase the percentages for the minimum and maximum targets for the undesignated fund balance; and By the City Council of the City of Bangor. ORDERED, That the attached Order entitled "Proposing an Amendment to the Bangor City Charter, Article VII, Section 16, Business and Financial Provisions, Undesignated Fund Balance" on the November 6, 2012 Municipal Ballot for a Public Hearing be placed on the August 27, 2012 City Council agenda for a public hearing and that the City Clerk is hereby directed to post seven days notice of said hearing. IN CITY COUNCIL AUGUST 13, 2012 MOTION MADE AND SECONDED =;�- JA. z, CITY CLERK FOR P f WCf ,) Assigned to Councilor Assigned to Councilor MHOS', 9 r CITY OF BANGOR 4TFD�F (TITLE.) ORDER, Proposing an Amendment to the Bangor City Charter, Article VIII, Section 16, Business and Financial Provisions, Undesignated Fund Balance. WHEREAS, the Bangor City Charter currently provides that the City Council "shall target an undesignated fund balance of no more than 10% of the operating budget, excluding debt for the General Fund. The target balance shall be established at 5% of the last year's expenditure less debt service"; and WHEREAS, it is in the best interest of the City of Bangor to increase the percentages for the minimum and maximum targets for the undesignated fund balance; and WHEREAS, an amendment to the Bangor City Charter requires a vote of the citizens of Bangor; and By the City Council of the City of Bangor. ORDERED, That the following amendment to Article VIII, section 16 of the Bangor City Charter be placed on the ballot at the 2012 regular municipal election to be held November 6, 2012 for approval by the qualified voters of the City of Bangor in accordance with Title 30-A M.R.S.A. §§2104 (1) and 2105. Art. VIII. Sec. 16. Unde:ienaled Unassigned Fund Balance. The City Council shall target an undesignated unassigned fund balance of no more than 10% 16.66% of the operating budget;exelud+eg-det for the General Fund. The target balance shall be established at 5ilo-8.33% of the last year's General Fund operating budget.expendit -eess debt . Statement of Fact: Deletions of the exisiting Charter provisions are stfuek thFewo. Additions are underlined. Summary: Currently the Charter provides that the City Council shall target no more than 10% of the City's operating budget, excluding debt for the General Fund. It also provides that the target balance for the undesignated fund balance shall be 8.33% of the last year's expenditure. This change will change the name of the undesignated fund balance to the unassigned fund balance; will provide for an increase in the target amount to 16.66%; will change the target balance to 8.33% and will remove the provision to exclude debt service in determining the amount.