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1. to fund an expenditure of significant long-term benefit or legacy to the <br /> community <br /> 2. to fund a one-time (non-recurring) expenditure or grant match <br /> opportunity <br /> 3. to provide catch-up funding or long-term obligations not previously <br /> recognized <br /> 4. to fund a one-time unplanned revenue shortfall <br /> 5. to fund an unplanned expenditure due to an emergency or disaster <br /> 6. to retire existing debt <br /> 7. to fund policy shifts by other governmental entities having a negative <br /> impact on the city <br /> 8. to moderate property taxes <br /> ■ Appropriation from the minimum fund balance shall require the approval of the City <br /> Council and shall be used only for non-recurring expenditures, unforeseen emergencies <br /> or immediate capital needs that cannot be accommodated through current year <br /> savings. Replenishment recommendations will accompany the decision to utilize fund <br /> balance. <br /> ■ At the discretion of the City Council, fund balance may be committed for specific <br /> purposes by resolution designating the specific use of fund balance and the amount. <br /> The resolution would need to be approved no later than the close of the reporting <br /> period and will remain binding unless removed in the same manner. <br /> ■ The City Council authorizes the Finance Director and/or City Administrator to assign <br /> fund balance that reflects the city's intended use of those funds. <br /> ■ When both restricted and unrestricted resources are available for use,it is the city's <br /> policy to first use restricted resources, and then use unrestricted resources as they are <br /> needed. When committed, assigned or unassigned resources are available for use,it is <br /> the city's policy to use resources in the following order; 1) committed 2) assigned and <br /> 3) unassigned. <br />