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<br /> <br />*Item 3.8.* <br /> <br />MEMORANDUM <br /> <br />TO: Mayor and City Council <br /> <br />FROM: Lori Johnson, Finance and Administrative Services Director <br /> <br />DATE: April 4, 2005 <br /> <br />SUBJECT: Consider Resolution Allocating 2004 General Fund Balance <br /> <br />As required by the Financial Management Plan, attached is a resolution allocating the 2004 <br />General Fund balance, As in previous years, the resolution calls for the General Fund <br />balance to remain at 41,5% of the next year's operating budget in accordance with past <br />Council practice, The amount available for allocation based on an unreserved fund balance <br />of 41.5% is $114,478, The resolution calls for this balance to be reserved to fund capital <br />equipment, which will lessen the city's dependence on equipment certificates, and to fund <br />pay adjustments in order to complete the pay plan adjustments as directed by the City <br />Council in August 2004, <br /> <br />Action Requested <br />The City Council is asked to consider the attached resolution allocating the 2004 General <br />Fund balance, <br /> <br />s: \ Council\Lori\200S \ GenFundBalance.doc <br />