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Ten percent (10 %) to Fund #810 — Park Trust Fund <br />Ten percent (10 %) to Fund #234 — Equipment Replacement Fund <br />Forty percent (40 %) to Fund #412 — Public Facility Construction Fund <br />Forty percent (40 %) to Fund #400 — Public Improvement Revolving Fund <br />When actual expenditures exceed actual revenues in a given year, the deficit shall be <br />treated as follows: <br />a) "Unreserved- designated" fund balance shall be adjusted to an amount equal to fifty <br />percent (50 %) of the next years adopted operating budget plus prior year <br />encumbrances (if any) plus compensated absences. <br />b) If shortage after complying with the fund balance requirement in step a) and b) shall <br />draw funds in the following manner: <br />Ten percent (10 %) to Fund #810 — Park Trust Fund <br />Ten percent (10 %) to Fund #234 — Equipment Replacement Fund <br />Forty percent (40 %) to Fund #412 — Public Facility Construction Fund <br />Forty percent (40 %) to Fund #400 — Public Improvement Revolving Fund <br />2) The Ramsey City Council hereby establishes this policy effective with the year ended <br />December 31, 2010. <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Wise, and upon vote being taken thereon, the following voted in favor thereof: <br />Mayor Ramsey <br />Councilmember Look <br />Councilmember Wise <br />Councilmember Dehen <br />Councilmember Elvig <br />Councilmember Jeffrey <br />Councilmember McGlone <br />and the following voted against the same: <br />None <br />and the following abstained: <br />None <br />RESOLUTION #10 -04 -082 <br />Page 2 of 3 <br />