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RESOLUTION NO. <br />08-083 <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEw BRIGHTON <br />AMENDING THE 200$ GENERAL FUND BUDGET FOR THE TRANSFER OF $225,160 TO <br />THE COMMUNITY REINVESTMENT FUND <br />EAS, the City's Fund Balance Policy states that the City recognizes it is essential that it maintain <br />to levels of fund balance to mitigate current and future risks, such as revenue shortfalls and <br />ipated expenditures, and to ensure stable tax rates and service levels. Fund balance levels are a <br />consideration in long-term financial planning; and <br />;AS, the Fund Balance Policy sets forth a "targeted" balance which is the desired amount of fund <br />at the end of the fiscal year and it was exceeded as of December 31, 2007; and <br />3, at the June 24, 2008 City Council Worksession, the City Council authorized $225,160 to be <br />out of the General Fund and into the Community Reinvestment Fund; and <br />the 2008 General Fund Budget should be amended to reflect the authorized transfer. <br />4EREFORE BE TT RESOLVED, by the City Council of the City of New Brighton to hereby <br />the resolution amending the 2008 General Fund Budget by the following: <br />Add: Transfers Out to the Community Reinvestment Fund $225,160 <br />Add: Contribution from Fund Balance $225,160 <br />this 23rd day of September, 2008 <br />A. Maiers;-Director <br />rand Support- <br />:ity Clerk... <br />1"M I <br />Steve Larson, Mayor <br />