HomeMy WebLinkAboutResolution-1995-1475
RESOLUTION NO. 1475
TITLE:
TRANSFERRING FUNDS FROM THE GENERAL FUND BALANCE TO THE
CAPITAL IMPROVEMENT FUND.
WHEREAS, after review and discussion of the City'S overall
financial status, the City Council has determined that an excess
of fund balance is maintained in the General fund; and
WHEREAS, the City Council has determined that the excess of
General fund balance can best benefit the community by its
utilization in the Capital Improvement fundi and
WHEREAS, the city Council has determined that the excess
amount in the general fund balance is 2 million dollars, which
will leave a projected 1995 year end fund balance of 2.6 million
dollars; and
WHEREAS, the City council has determined that a 2.6 million
dollars ending fund balance in 1995 is an adequate reserve for
the efficient operation of the City of Wheat Ridge and to protect
its financial interests in the future.
NOW, THEREFORE, BE IT RESOLVED by the members of the Wheat
Ridge City Council that 2 million dollars be transferred from the
General fund balance into the Capital Improvement fund balance
for subsequent allocation to projects and capital expenditures
and that the 1995 budget is hereby amended accordingly.
DONE AND RESOLVED this 26th day of June, 1995.
ATTEST:
ttt'cd:_
WANDA SANG,
~~~
DAN WILDE, MAYOR