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Resolution 2013-5

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RESOLUTION 2013-5
RESOLUTION AUTHORIZING CAPITAL OUTLAY ACCUMULATIONS FOR 2014 APPROPRIATIONS
WHEREAS the governing body of a municipality may by resolution authorize the accumulation of funds for a period longer than one year for specific capital outlay purposes otherwise authorized by law (SDCL Section 9-21-14.1), and
WHEREAS the amount of all accumulations for all purposes may never exceed the amount of $270,013 which is the greater of ten dollars per thousand dollars of assessed value of all property within the municipality or one hundred twenty-five thousand dollars, and
WHEREAS the resolution shall set forth clearly the purpose of which the funds are to be accumulated, and
WHEREAS the funds to be accumulated shall be expended within sixty months from the date of the resolution, and
WHEREAS should the specific purpose for which the funds are accumulated are deemed no longer necessary, the funds will revert back to the general fund,
BE IT RESOLVED THAT pursuant to the second reading and adoption of Ordinance 2013-08-8 containing the appropriations for the 2014 fiscal year, the City of Gettysburg is establishing the following RESERVED FUND BALANCES:
AMBULANCE  DEPARTMENT:
Fund Balance -
Reserved for ambulance     $50,000
Reserved for street improvements
$100,000
Reserved for Police equipment
$10,000
TOTAL RESERVED FUNDS
FOR 2012    $160,000
Dated this 3rd day of September, 2013
WITNESS:
Bill Wuttke, Mayor
ATTEST:
Sharleen Eliason, Finance Officer
Published once at the total approximate cost of $21.05
-090513

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