City of Jonesboro - File #: RES-03:705

• File #: RES-03:705
• Version: 1
• Name: Creation of a financial reserve policy
• Type: Resolution
• Status: Passed
• File created: 6/2/2003
• In control: Finance & Administration Council Committee
• Final action: 6/2/2003
• Title: RESOLUTION OF THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS ESTABLISHING A FINANCIAL RESERVE POLICY (NOTE: THIS RESOLUTION WAS AMENDED BY RES-03:705 ON NOVEMBER 17, 2009. SOME FUNDS WERE EXEMPT WITH RES-11:205 ON DECEMBER 6, 2011)
• Indexes: Policy - creation/amendment
• Related files: RES-09:186, MIN-03:170, RES-11:205

Date	Ver.	Action By	Action	Result
6/2/2003	1	City Council	Passed	Pass

title

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS ESTABLISHING A FINANCIAL RESERVE POLICY (NOTE: THIS RESOLUTION WAS AMENDED BY RES-03:705 ON NOVEMBER 17, 2009. SOME FUNDS WERE EXEMPT WITH RES-11:205 ON DECEMBER 6, 2011)

body

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS THAT:

The City of Jonesboro shall maintain minimum financial reserves as follows:

In the Unappropriated Fund Balance of the General Fund, at least 30% of the amount of appropriated General Fund expenditures for the budget year.

In the Unappropriated Fund Balance of each Restricted Fund, at least 15% of the amount of appropriated Restricted Fund expenditures for the budget year.

APPROVED AND ADOPTED this the 2^nd day of June, 2003.